MANILA, Philippines — RFM Corp. is kicking off the year on a high note by rewarding its shareholders with P200 million in cash dividends.
RFM’s board has approved a cash dividend of P0.05936 per share payable on Feb. 18, 2025, with record date as of Jan. 22, 2025.
RFM CEO Jose Ma. Concepcion III said the company’s strong balance sheet has enabled it to provide steady declaration of cash dividends.
In 2024, RFM declared a total of P1.3 billion in cash dividends, higher than the previous year’s P850 million.
RFM’s 2024 dividend yield is 10 percent at the share price of P3.87 as of end last year.
RFM’s full year 2024 revenues are on track to hit P22 billion, while income is trending to grow double digit to the P1.4 billion to P1.5 billion range.
This year, Concepcion expects to sustain the strong performance of RFM’s brands and businesses with input price inflation within reasonable levels so far.
“Our pipeline of new products is quite packed for our ice cream, pasta and milk brands which will ensure organic growth for RFM in the near term,” he said
RFM delivered an income of P1.27 billion from P20.7 billion revenues in 2023.
RFM, a listed food and beverage firm, owns 50 percent of the leading ice cream company in the Philippines that sells Selecta, Magnum and Cornetto brand as well as the leading pasta brands Royal and Fiesta pasta and sauces.
It also owns the Selecta Milk and White King mixes brands.