LT GROUP EARNS P21.02 BILLION

By The Financial District
Mar 19, 2021
1 min read

LT Group, Inc. (LTG) has reported an unaudited attributable net income last year of Php21.02 billion, 9.1% less than the Php23.12 billion reported for 2019.

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Publicly-listed Philippine National Bank (PNB) contributed Php1.55 billion or 7% of total attributable income, while the tobacco business accounted for Php16.83 billion or 80%. Tanduay Distillers, Inc. (TDI) contributed Php1.10 billion or 5%.

Eton Properties Philippines, Inc. (Eton) accounted for Php799 million or 4%, while Asia Brewery, Inc. (ABI) contributed Php583 million or 3%. The 30.9% stake in Victorias Milling Company, Inc. (VMC) accounted for Php264 million or 1%.

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Aside from the regular cash dividend of Php0.15 per share that was paid in June, LTG paid three special cash dividends in 2020, Php0.28 per share in June, Php0.23 per share in September and Php0.15 per share in December.

This brought the total dividends declared in 2020 to Php0.81 per share or Php8.76 billion, significantly higher than 2019’s Php0.30 per share or a total of Php3.25 billion. The 2020 dividends translate to a 37.9% pay-out rate compared to 20.0% in 2019.

On March 17, 2021, LTG’s Board of Directors declared a regular dividend of Php0.15 per share and a special dividend of Php0.09 per share, for a total of Php2.60 billion, payable on April 13. This is equivalent to 12.4% of LTG’s 2020 attributable net income.

LTG’s balance sheet remains strong. Debt-to-Equity Ratio was at 4.30:1 with the Bank, and at 0.16:1 without the Bank.

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