MANILA, Philippines – Listed agritechnology firm Calata Corp. is declaring cash dividends as it posts a year-on-year growth in revenues and a slight increase in its net income.
In a filing, the company announced that it has approved cash dividends of P0.25 per share on common shares as of May 17, 2013.
The company will announce the date of distribution.
As a result of its continued business growth, this is the third consecutive year that the company has declared a cash dividend.
Calata declared a net income of P110.375 million in 2012 from P100.173 million in 2011.
The firm attributed its higher income to increased tie ups with foreign agritechnology companies and exclusive long term supply agreements in 2012.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1
It posted revenues of P2.2 billion in 2012 from P2 billion in 2011.
Towards the close of 2012, the company established a retail chain of farm input products through its acquisition of Agri Phil Corp.
Agri Phil Corp. owns 116 stores located in various parts of Luzon.
“This is expected to further improve the revenue and income of the company in the years to come, thereby increasing shareholder value as well as providing an attractive investment prospect to the investing public,” the company said.
Early this month, the company announced that it has entered into an agreement with Argentina-based Agroservicios Humboldt S.A for the exclusive distribution of its animal nutrition products in the Philippines.
The company was granted the exclusive right to identify and represent business opportunities in all aspects of animal feed production, cereal mix, protein concentration, vitamin-mineral pre-mix and every product related to animal nutrition throughout the Philippines,the company announced.
Agroservicios is an agribusiness company primarily engaged in wholesale and storage of grains, oilseeds, soybean, maize, sorghum, wheat, sunflower and other related products; production of a complete line of food and mix for animal nutrition.
Calata said its partnership with Agroservicio is expected to strengthen its position as one of the largest distributor of agricultural products in the Philippines.