RFM Corporation Approves P200 Million Cash Dividend to Kick Off 2025 Dividend Payments

RFM Corporation CEO Jose Ma. A. Concepcion III disclosed that RFM’s Board has approved a P200 Million cash dividend or P0.05936 per share payable on February 18, 2025, with record date as of January 22, 2025. In 2023, RFM made P1.27 Billion income from P20.7 Billion revenues.

Concepcion, who has also been buying shares in the market in 2024, said that RFM sees a better 2024 full year performance from its branded consumer and institutional businesses in both sales and income. Noting preliminary and unaudited figures, RFM said 2024 total revenues are on track to hit P22B while income is trending to grow double digit to the P1.4 Billion to P1.5 Billion range. For the new year 2025, the CEO expects to sustain the strong performance of RFM’s brands and businesses with input price inflation within reasonable levels so far.

Concepcion also noted the strong underlying consumer demand for RFM’s Fiesta and Royal pasta products that buoyed 2024 sales on top of the purchases of local government units for their Christmas baskets for constituents.

RFM declared a total of P1.3 billion in cash dividends in 2024, up from P850 Million in 2023. At the share price of P3.87 at end 2024, RFM’s 2024 dividend yield is 10%.

The listed food and beverage company (PSE: RFM) also owns 50% of the leading ice cream company in the Philippines that sells Selecta, Magnum and Cornetto brand as well as the leading pasta brands Royal and Fiesta pasta and sauces. RFM also owns the Selecta Milk and White King mixes brands.

“RFM has no debts and has a strong balance sheet that enable our steady declaration of cash dividends. We have also completed some big capex in 2024 like the new Silang, Cavite bakery plant and new Selecta Milk lines and will just be on the lookout for opportunities to grow our businesses. Nevertheless, our pipeline of new products is quite packed for our ice cream, pasta and milk brands which will ensure organic growth for RFM in the near term,” said Concepcion.