GMA Network declares P2.4B in cash dividends

GMA Network Inc. said on Wednesday that it would be paying out cash dividends totaling P2.4 billion, equivalent to P0.50 per share.

The network said the dividend declaration exceeded net income after tax for 2024, but remained well within its retained surplus account.

The dividend will be paid on May 20 to shareholders of record as of April 29.

"This move underscores the confidence of GMA Network's board and management in the company's strong financial fundamentals and its positive outlook for 2025," the network said.

"The declaration is consistent with the network's commitment to delivering long-term value to its shareholders while sustaining operational and fiscal resilience," it added.

GMA said that since its listing on the Philippine Stock Exchange in 2007, it has maintained a strong track record of high dividend payouts, averaging approximately 90 percent of its net income after tax annually.

The company reported a net income of P2.07 billion in 2024, down 35 percent from P3.17 billion in 2023, as revenues declined 6 percent year on year to P17.56 billion.

GMA Network, which celebrates its 75th anniversary this year, continues to lead the Philippine broadcast industry, operating 115 television stations and 21 radio stations nationwide.

Based on Nielsen TV Audience Measurement data for 2024, GMA Network, including GTV and other digital channels, tallied a combined people net reach of 93 percent, equivalent to 67 million TV viewers in Total Philippines.

The network also solidified its position in the digital space in 2024, tallying 45.5 billion video views across Facebook, TikTok and YouTube, according to Tubular Labs data.

GMA Network shares on Wednesday dipped 0.17 percent to close at P5.94 each.