Listed firm Synergy Grid and Development Philippines Inc. has declared cash dividend of P0.26 per share, or a total of P1.369 billion to its outstanding shareholders within third quarter this year.
Synergy Grid serves as the holding firm of private transmission company NGCP, the operator of the country’s power transmission assets. Its major shareholders are OneTaipan Holdings Inc. which is led by tycoon Henry Sy Jr.; and the Pacifica21 Holdings of businessman Robert Coyiuto Jr. The transmission firm previously indicated that it will funnel P440 billion worth of capital spending to at least 211 projects that will expand the wheeling capacity as well as reinforce the reliability of the country’s electric transmission highway.
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