Yulo, Jarman share spotlight
MANILA, Philippines — Rivals to friends.
UPS latest news
ICTSI first-half profit soars 34% to $462M
MANILA-BASED global port operator International Container Terminal Services Inc. (ICTSI) reported a 34 percent surge in consolidated net income for the first six months of 2024 to $461.97 million (P26.5 billion) from $348.1 million (P19.97 billion) a year ago, backed by the strong performance of its diverse international portfolio.
Meralco's rates up slightly in Aug
MANILA, Philippines — There will be a P0.0327 increase in Manila Electric Company's (Meralco's) rates in August, the power distributor said on Monday (Meralco).
No plans to lessen Philippine holidays — Escudero
MANILA, Philippines — Senate President Francis Escudero on Monday said there are no plans to lessen the holidays following the online uproar his previous comments stirred.
Stocks mostly rise as focus turns to US inflation data
HONG KONG, China — Asian markets mostly rose Monday as investors tried to move on from last week's upheaval fueled by US recession worries, with focus shifting to the release of key inflation and retail data.
Dolly de Leon shares ‘Filipino-ness’ working in series with Nicole Kidman
MANILA, Philippines — The Philippines’ first British Academy Film Awards (BAFTA) and Golden Globe nominee Dolly de Leon just wrapped up shooting “Nine Perfect Strangers" in Germany together with co-stars Nicole Kidman and Henry Golding.
Yulo, fellow gymnast Jake Jarman cross paths anew at Paris Olympics closing
MANILA, Philippines – From rivals to friends.
RCR declares growing Q2 dividend
RL Commercial REIT [RCR 5.70 ?0.9%; 225% avgVol] [link] declared a Q2/24 dividend of P0.0992, payable on October 4 to shareholders of record as of September 10. The dividend has an annualized yield of 6.96% based on the previous closing price, which is marginally higher than RCR's pre-dividend annualized yield of 6.95%. The total amount of the dividend is P1,064 million, which is 93% of the P1,147 million in distributable income that RCR reported for the quarter. Relative to RCR's IPO price, the dividend increased RCR's total stock and dividend return to 5.93%, up from its pre-dividend total return of 4.39%. RCR’s stock price is up 18.6% year-to-date. It has a TTM yield of 6.89% and an estimated yield of 6.95%.MB BOTTOM-LINE: It’s great to see RCR organically growing its dividend even before shareholders get access to the income from its massive P34 billion swap. It’s not a huge increase (+1.43% y/y, +0.20% q/q), but growth is growth (DDMPR shareholders don’t have any more tears to cry). The income from those new properties has been accruing to the benefit of RCR shareholders since April 1, 2024, but the parties will likely wait until after the swap is officially approved by the SEC and completed before any of that accrued cash will physically change hands. Logically this makes sense, because the shares that RCR issued to RLC won’t be officially transferred to RLC until the swap is approved. RLC wouldn’t want to miss out on getting its hands on a larger portion of that “new” Q2 RCR income.