RFM Corporation Approves 2nd P200 Million Cash Dividend for 2025

RFM Corporation’s Board approved another P200M cash dividend or P0.05936 per share payable on May 26, 2025, with record date as of April 29, 2025. This P200M dividend is the second payment in 2025 that brings total cash dividend for 2025 at P400M.

CEO Joey Concepcion also confirmed that the audited financials of 2024 showed a +5% growth in topline to P21.7B and +12% increase in net income to P1.4B. For the first quarter of 2025, unaudited preliminary numbers show RFM sustained the expansion momentum as sales grew by +3% sales to P4.5B and net income expanded +53% to P309M. Concepcion cited the big role of RFM’s pasta, milk and flour segments as well as RFM’s joint venture with Unilever in the leading ice cream company in the country – Unilever RFM Ice Cream, Inc – in RFM’s net income performance.

The ice cream joint venture manufactures and sells the best-selling Selecta Ice Cream as well as Cornetto and Magnum brands. Concepcion is the chairman of the board of the domestic joint venture while Vincent “Bindoy” Baltazar is the CEO, replacing John Concepcion.

On the recent news of the Unilever decision to separate its global ice cream business from Unilever’s other businesses like beauty, homecare and food products, Concepcion explained that “in March 2024, Unilever announced its intention to separate its Ice Cream division to create a world-leading business that better facilitates the future growth potential of Ice Cream. Ice Cream has distinct business characteristics compared with the rest of Unilever’s business portfolio; these include a supply chain and point of sale that support frozen goods, a different channel landscape, more seasonality, and greater capital intensity. 

As a standalone, more focused business, Ice Cream’s management team will have operational and financial flexibility to grow its business, allocate capital and resources in support of the company’s distinct strategy. The Ice Cream Separation activity is already underway aiming to complete by the end of 2025”. At this point in time, there is no immediate impact to the business, and there are no changes to the usual ways of working, especially in the Philippines where the Ice Cream business has already been operating as a separate entity, under Unilever-RFM Ice Cream, Inc.

Concepcion added that he is very confident of the plan of Unilever to carve out its global ice cream business and looks forward to continuing the excellent relationship and performance of the local joint venture for many years to come. 

For 2025, the CEO shared that RFM hopes to grow revenues and income by mid to high single digit numbers supported by the growth in RFM’s ice cream, milk, pasta, flour, breads and mixes segments. The listed food and beverage company (PSE: RFM) declared a total of Php1.3 billion in cash dividends in 2024, up from P850M in 2023. At the share price of P3.87 at end 2024, RFM’s 2024 dividend yield was 10%. RFM’s share price as of April 8, 2025 had risen to P4.15.