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Pilipinas Shell declares cash dividend of P3 per share

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Pilipinas Shell

PILIPINAS Shell Petroleum Corp. on Tuesday declared cash dividends of P3 per share, representing P4.8 billion or 95% of its audited net income in 2018.

In a disclosure, Pilipinas Shell said this cash dividend exceeded its commitment to a dividend payout of at least 75%. This is also considered to be its highest payout ratio since its initial public offering (IPO) in 2016.

The dividends will be paid on April 30, 2019 to stockholders on record as of April 5, 2019.

“We generated P14.1 billion cash from operations last year, which allows us to not only cover our dividend payments, but also to fund P6 billion worth of capital expenditure this year,” Cesar G. Romero, president and chief executive officer of Pilipinas Shell, said in a statement on Tuesday.

Last year, the company’s return on average capital employed stood at 15%.

“With a healthy balance sheet and gearing of 17%, the Company continues to be well-positioned to fund growth and sustain its attractive dividend policy,” Pilipinas Shell said in a statement.




The listed company is increasing its capital expenditure to P6 billion this year from P4.1 billion in 2018. The higher capital expenditure is aimed to support the expansion plans of its retail business, which would include opening of 50 to 70 new sites, and for projects that will enhance the crude flexibility of the Shell Tabangao Refinery.

Shares in Pilipinas Shell dipped 0.30% or P0.15 to close at P49.65 a piece in the stock exchange on Tuesday. — Vincent Mariel P. Galang