Jollibee Foods Corp.(JFC) has declared a cash dividend of P0.86 per share of common stock, 7.5 percent higher than the cash dividends given out last year.
Disclosed to the Philippine Stock Exchange (PSE), JFC’s cash dividends will be issued to all shareholders of record as of April 21, 2016 and payable on May 6, 2016.
As part of its policy, JFC declares regular cash dividends, which represent 33 percent of estimated earnings per share for the year.
JFC declares dividends twice a year, the first in May and the second in December.
JFC reported a net income of P4.81 billion last 2015, down by 10 percent from P5.36 billion in 2014 due to costs related to its international and local expansion program and upgrade of information technology. In the fourth quarter of 2015 alone, the JFS’s net earnings fell to P948 million from P1.72 billion of the fourth quarter of 2014.
Without the superfluous expenses, JFC’s net income would have grown 7.8 percent from 2014 to 2014.
The Filipino fast food giant opened 303 stores in 2015, marking its highest store opening in a single year.
It is currently the largest food service network in the Philippines, with 2,475 outlets in the country across the Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal and Burger King brands.
For its overseas operations, the company had 642 stores as of the end of 2015, bring its total global footprint to 3,117 stores.
photo from ifranchise.ph