Resorts World Manila (RWM) Declares Cash Dividend
Pasay City, May 16, 2016 — Travellers International Hotel Group, Inc. (TIHGI), owner and operator of Resorts World Manila (RWM), announced that it declared cash dividends of Php0.05 per common share totaling Php 787.8 million or 19.55% of its net profit in 2015. The company recorded Php 4.0 billion in net income in 2015.
The cash dividends will be payable on June 10, 2016 to stockholders of record at close of business day on May 31, 2016.
TIHGI’s financial condition remained robust with total assets at Php 67.2 billion while total liabilities at Php 24.5 billion for the same period.
“Despite increased competition last year, the Company achieved solid net profits and operational efficiency while strengthening its non-gaming segment,” said Kingson Sian, President and CEO, Resorts World Manila. “As such, we are able to deliver quality earnings to our shareholders, just as we did in the previous year.”
The Company is also on track with its expansion projects for both gaming and non-gaming business units. Phase 2 is on its tail end with the completion of the Marriott West Wing due in the second half of the year. While the Phase 3, which will consist of three hotels – the Hilton Manila, Sheraton Manila Hotel, Maxims Hotel new wing, additional gaming area, new retail spaces and six basement parking decks, will be completed by the end of 2017.
TIHGI remains optimistic in its ability to continue delivering real value and sustainable earnings to its shareholders.
TRAVELLERS INTERNATIONAL HOTEL GROUP, INC.Office: +632 908-8000
Fax: +632 908-8107
FOR INVESTOR RELATIONSBernard Than
Chief Financial Officer & Investor Relations Officer
FOR COMPLIANCEAtty. Ma. Georgina A. Alvarez
Chief Legal Officer & Corporate Information Officer