ChemrezTech declares P158-M cash dividends

Chemrez Technologies Inc. declared total cash dividends of P158.6 million, which was approved by its board of directors. The country’s top biodiesel, resins, and oleochemicals producer said in a disclosure to the Philippine Stock Exchange that it declared a regular cash dividend of P0.06 per share and a special cash dividend of another P0.06 per share. The 12-centavo cash dividend is equal to 33 percent of the company’s P474-million net income in 2009. Stockholders on record as of July 20, 2010 are entitled to the cash dividends. “It is the policy of ChemrezTech to share the fruits of its operations with its shareholders. In line with this policy, ChemrezTech has consistently been paying dividends since 2001," ChemrezTech said in a statement. —VS, GMANews.TV