STI Education Systems Holdings Inc. disclosed on Monday its issuance of regular cash incentives amounting to over P198 million.
The company informed the local bourse that its board of directors approved the declared cash amount of P0.02 per share, or a total of P198,096,138, entitled to all stockholders on record as of October 17.Due for settlement on November 11, the dividends will be covered by the retained earnings of STI as of March 31 this year.
For the second quarter of 2014, the Eusebio Tanco-led holding firm posted P378.9 million in revenues, 15 percent higher than the P330.4 million it recorded during the same period last year.
This was mainly attributed to the increase in enrollment and the acquisition of West Negros University (WNU).
Overall, the number of STI students has grown from 76,195 in 2013 to 80,200 this year, up 5.3 percent year-on-year. Enrollment in WNU, following its acquisition on October 1, 2013, has stood at 5,080 students for school year 2014-2015, compared with last year’s 5,000 students. STI’s tuition and other school fees for the period rose by P47.9 million to P300.3 million from P252.4 million the previous year.
Currently, there are 80 STI-branded schools in the country, of which 66 are colleges and 14 are educational centers.
Besides iACADEMY, it also has another non-STI branded school called DLS STI College.
Prior to WNU, STI Holdings already had invested in the Philippine Women’s University via its operator Unlad Resources Development Corp.