In a time when publicly listed companies are announcing dismal performances due to the credit crunch, its surprising to find out that the Aboitiz group is issuing dividends to their stock holders. Aboitiz Equity Ventures (AEV) will pay out P0.27/share while its power generating subsidiary, Aboitiz Power Corp (AP), will give P0.20/share to investors who are listed share owners in the company by February 26, 2009. Payment will be made by March 23, 2009.
AEV is the holding firm company of the Aboitiz Group and considers AP as one of its subsidiaries. Some companies that AP has significant ownership holdings in are: Hydropower Corporation, Hedcor, Inc., Luzon Hydro Corporation, SN Aboitiz Power-Magat Inc., SN Aboitiz Hydro Inc., Hedcor Sibulan, Inc., Hedcor Tamugan, Inc., and East Asia Utilities Corporation.
Energy stocks seems to be the only bright spot in the Philippine stock market nowadays. Looking at the stock data of these two companies in the Philippines Stock Exchange (PSE) you will notice that they are two of the few companies whose stocks have started an up tick in their valuation compared to the other listed companies whose stocks are still in a downward spiral.
This just goes to show that investing in a well established utility company will pay dividends. Yeah that was meant as a pun. *snicker*
Category: Aboitiz
