Corporate News

Cash dividends set

Posted on December 10, 2011

TWO FIRMS are poised to shell out cash dividends totalling P412 million, disclosure to the Philippine Stock Exchange on Friday showed.

Berjaya Philippines Inc., formerly Prime Gaming Philippines, Inc., said its wholly owned subsidiary Philippine Gaming Management Corp. has declared dividends to its stockholders on Dec. 8 worth P400 million.

The company could not be reached for additional details.

Meanwhile, Lorenzo-led Pancake House, Inc. will be issuing cash dividends on or before Dec. 29 at 51 centavos per share with total value of P12 million.

The company has placed the record date on Dec. 23, which means that only stockholders on the cut-off date are eligible to receive cash dividends.

Berjaya Philippines recorded P1.06 billion in consolidated net income for its fiscal year ending April, a 63% rise from yearago levels reportedly due to a surge in lottery revenues.

Third quarter profits of Pancake House, which operates a namesake joint, Dencio’s Bar and Grill, and Teriyaki Boy, surged by 84% to P18.33 million from last year’s P9.98 million.

Shares of Berjaya Philippines fell by 18.6% to P17.5 apiece while stocks of Pancake House stood unchanged at P10 apiece on Friday. -- C. H. C. Venzon