Synergy Grid and Development Philippines Inc. (SGP), which owns a 60-percent indirect interest in the National Grid Corporation of the Philippines (NGCP), has announced a dividend of P0.20 per share.
SGP’s dividends amounting to a total of P1,053,173,200 is based on record date as of December 14, 2021, to be paid on January 10, 2022.
“We are thankful to the investing public for their support since our follow-on offering. We are happy to announce this dividend payout after our follow-on offering; we look forward to a long fruitful partnership with our stockholders,” said Henry T. Sy Jr., SGP chairman.
“This dividend payout is proof of SGP’s fulfillment of its commitment with its partner investors. They can be assured that their investment in SGP will contribute to the development of the nation’s sole transmission network and will be used fully by National Grid Corporation of the Philippines to finance its capital expenditure requirements,” added Robert G. Coyiuto, Jr., vice chairman of SGP.
SGP, the indirect controlling shareholder of power transmission operator NGCP, concluded its follow-on offering which was listed on the Philippine Stock Exchange last November 10.