Megawide raises dividend payout

In light of its improving prospects, engineering and infrastructure firm Megawide Construction Corp. is increasing its maximum allowable dividend cash declaration policy to 50 percent from 30 percent of the previous year’s net income.

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In a disclosure to the Philippine Stock Exchange, the firm said the expanded dividend policy was approved by its board of directors in their meeting last Sept. 19.

The move is meant to give the company more flexibility to allow its shareholders to benefit from the declaration of higher cash dividends.

Earlier, Megawide reported an 81 percent surge in consolidated net income to P436 million in the first six months of the year, 81 percent of full-year 2024 net income.