EDUCATION and information-technology (IT) firm iPeople Inc. has declared a cash dividend of P0.06 or a total of P44.94 million set for distribution by next year.
In a filing with the Philippine Stock Exchange, the company disclosed on Monday that the cash incentive will be applicable to its outstanding common shares of 748,933,221.
Using its unrestricted retained earnings as of December 31, 2013, shareholders on record as of December 19 will be entitled to the cash amount payable on January 21, 2015.
As a holding company within the Yuchengco Group of Companies (YGC), iPeople is engaged in education, consulting development, as well as installations and maintenance of IT systems.
Its two main operating subsidiaries are Malayan Colleges Inc. and the Pan Pacific Computer Center (PPCC).
The former has two other wholly owned subsidiaries such as the Malayan Colleges Laguna and the Malayan High School of Science. The latter services the IT-related requirements of the YGC and select clients.
From July to September of this year, the firm continued to show strong results with a net income of P541.77 million, up 11 percent from the same period in 2013.
Total revenues for the third quarter of 2014 grew by 13 percent to P1.68 million from P1.49 million last year.
Major drivers of such were the steady rise in the magnitude of revenues from schools, which improved by 9 percent, and sales hike of PPCC.