iRemit will release P25.68 million in dividends

MANILA, Philippines - I-Remit, Inc. (iRemit), the country’s largest Filipino-owned non-bank remittance company, will release P25.68 million in cash dividends, corporate secretary Alma C. Santiago said. In a letter to the exchange, Santiago said iRemit has declared a cash dividend of P0.0465 per share to stockholders as of April 7. The dividends will be paid on or before May 6. "Such dividend per share is, however, subject to the changes in the net income that may be brought about the finalization of the corporation's audited financial statements, which (sic) change, if any, shall affect only the last two figures of the dividend amount per share, and which we shall disclose on a date on or before April 1," Santiago said. On Tuesday, iRemit shares closed 18.75 percent higher at P4.75. For the first two months of the year, iRemit saw a 27 percent increase in remittance volume which it attributed to "major and mature markets" amid global economic slowdown. Its remittance volume in Canada, Middle East, Australia and Europe posted double-digit increases during the period. - GMANews.TV