The Board of Directors of Belle Corporation approved a cash dividend of PHP0.06 ($0.001) per share last Friday.
The decision was made in light of the company’s resilient business performance throughout last year.
According to a filing with the Philippine Stock Exchange on Monday, the total payout, amounting to approximately PHP582 million ($10.1 million), will be distributed to common shareholders on March 21st, 2025. As of March 7th, 2025, shareholders of record will be entitled to receive the dividend.
The company achieved a 5 percent increase in consolidated revenues last year, rising to PHP5.89 billion ($101.8 million) from PHP5.6 billion ($96 million) in 2023. Additionally, consolidated recurring net income grew by 7 percent, reaching PHP2.4 billion ($42.2 million) compared to PHP2.3 billion ($39.4 million) the previous year.
Belle’s consolidated net income for 2024 remained stable at PHP2.4 billion ($41.9 million), slightly up from PHP2.42 billion ($41.8 million) in 2023. Despite this modest increase, the company’s financial stability remains solid.
Armin Raquel Santos, President and Chief Executive Officer of Belle Corporation, remarked, “In 2024, the Belle Group remained profitable due to the resilience of our businesses, strategic focus and healthy balance sheet. Relying on our tried and tested business models, we worked with our management teams, employees and business partners to provide the finer things in life to our loyal patrons and customers.”
Belle Corp is the parent company of Premium Leisure Corp, which operates City of Dreams Manila.
