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Share prices of Megawide (MWIDE) stock have move up by 9% at the opening bell and currently at 20% in stock price after its declaration of dividends.
A day before the announcement share price of MWIDE closed at 3.27 per share, the announcement of dividends of 0.50 peso per share translate to 15.29% upside.
In its PSE Edge disclosure, below is the MWIDE statement.
In the Regular Meeting of the Board of Directors of Megawide Construction Corporation (the “Corporation”) held on 6 February 2023, the Board declared cash dividends for Common Shares at PhP 0.50 per share or a total of PhP 1,006,704,858.50. The cash dividends are payable on 24 March 2023 to all common stockholders of record as of 6 March 2023.
The dividends shall be paid out of the unrestricted retained earnings of the Corporation distributable as dividends as of 31 December 2022.
Source: https://edge.pse.com.ph/openDiscViewer.do?edge_no=146596b1ef69dd799e4dc6f6c9b65995
Stock price of MWIDE is currently at 3.97 per share as of the time of this writing
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Joey is the founder of a Philippine Stock Market Youtube channel and also known as “Palaboy Trader”. He does daily review of Trending stocks and teaches basics of Investing and trading. He has the aim to educate Filipinos to be financially independent He is also is an Overseas Filipino Worker Currently working in a Multinational Company in Malaysia