Chemrez Technologies Inc., the country’s pioneering biodiesel manufacturer has announced cash dividends worth about P119 million for registered stockholders starting July 6,2009.
This is 32% of the company’s 2008 net income and is said to reflect the full year impact of ChemrezTech’s wholesale biodiesel market income after the passage of the Biofuels Act in 2007.
The cash dividend will consist of a 6 centavos per share dividend and a special cash dividend amounting to 3 centavos per share. Last year, it payed out a 33 percent cash dividend. The biofuel and resin producer has consist in declaring cash and stock dividends since 2001.
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Category: Biodiesel
