Palpak na, kumita pa! Manila Water’s shareholders set to collect more cash
Manila Water may be under fire over the water crisis affecting parts of Metro Manila and Rizal, but their shareholders are on cloud nine.
According to business watcher Victor Agustin, the utility firm controlled by the Ayalas has increased the cash dividend for the first half of 2019 by 5.7 percent to P0.4551 a share.
Agustin said Manila Water will release about P939 million to its shareholders on
March 28. They can expect another windfall come October, when the company distributes the second half of its cash dividends.
Manila Water has blamed the water crisis on inadequate supply for the East Zone it services, coupled with El Niño.