SEARCH
Voyager builds technology platforms and products for financial services, digital commerce, digital marketing and consumer engagement that enable individuals, businesses, organizations and whole cities to reach out and serve more people.
PLDT HOME believes that the strongest connections are at home. It provides Filipino families with a compelling suite of multimedia products and services so they can stay connected and easily access quality entertainment, information, security and other digital services in the comfort of their homes.
PLDT Enterprise is the group’s B2B arm and is tasked with the mission of empowering Philippine enterprises large and small as they pursue their respective digital transformation journeys.
ePLDT is the premier information and communications technology company in the country, delivering world-class solutions to both large enterprises and the SMEs across various industries.
PLDT Global delivers international services for overseas Filipinos as the leading offshore Filipino information and communications technology company.
Smart Communications is the group’s wireless services provider that provides a wide range of innovative prepaid, postpaid and mobile broadband services.
Sun offers a wide range of service innovations for mobile telephony from voice, messaging and international roaming services to wireless broadband and value-added services.
TNT is Smart's value brand that provides fast and reliable LTE connections and affordable call, text and data services.
Home → PLDT News Center → News
MANILA, Philippines, September 14, 2011 – There is something amiss about the pious rhetoric of Globe Telecom’s corporate communication head on being Filipino. In a recent statement regarding foreign ownership in PLDT, she simply omitted to inform the public and government that in the case of Globe Telecom approximately 63% of its dividend rich common shares are owned – well, not by Filipinos – but by foreigners. Indeed, the single biggest common shareholder of Globe is Singapore Telecom, a foreign company, which owns approximately 47.3% of Globe’s total issued and outstanding common shares. This glaring foreign ownership is evident from filings made by Globe with the Securities and Exchange Commission (SEC).
Globe common shares are dividend rich. Based on records available from the SEC, Globe common shares have been receiving tens of billions of Pesos in cash dividends every year. This means that 63% of the huge amount of annual cash dividends of Globe common shares go – well, not to Filipinos – but to foreigners.
Shown below is the cash dividend record of Globe common shares for the period 2008 to 2011.
Globe Telecom Total Cash Dividend - Common
Year
Date
Amount
2008
02/04/2008
4,962,508,163
08/05/2008
11,579,763,300
2009
02/03/2009
4,234,884,864
08/04/2009
4,234,979,392
11/06/2009
6,617,279,750
2010
02/04/2010
5,293,926,080
08/03/2010
5,293,938,920
2011
02/08/2011
4,102,803,000*
08/08/2011
4,103,800,000*
* only rounded off to the nearest ‘000 figures available in SEC Form 17-Q (06/30/2011)
Just like PLDT, Globe also has preferred shares. Globe preferred shares have a much low par value (Php 5.00 per share) and a much lower dividend yield than Globe common shares (par value Php 50.00 per share). Unlike PLDT preferred shares which are owned by millions of Filipinos, the entire issued and outstanding Globe preferred shares – totaling 158,515,021 shares - are owned by one company, Asiacom Philippines, Inc., which is 60% owned by Ayala Corporation and 40% owned by Singapore Telecom Int’l Pte Ltd, a foreign corporation. This means that 40% of the Globe cash dividends received by Asiacom Philippines, Inc. also go to a foreign company - Singapore Telecom.
In contrast to the billions of Pesos in cash dividends received by Globe common shares annually, the cash dividends received by Globe preferred shares are miniscule. Shown below is the cash dividend record of Globe preferred shares for the period 2008 to 2011.
Globe Telecom Total Cash Dividend - Preferred
12/02/2008
60,636,619
12/04/2009
50,491,988
-
45,399,000*
Now, if Globe Telecom’s corporate communication head follows her own logic regarding proper ownership structure and applies her own “legal prescription”, she should turn her company to the authorities for being a foreign-owned telecommunications company.
ATTY. RAY C. ESPINOSA PLDT GROUP HEAD, REGULATORY AFFAIRS AND POLICY
PLDT.com News Center contains company news and featured content from the PLDT Group.
For media inquiries, email us at media@pldt.com.ph.
Follow us on social media:
