Travellers International Hotel Group, Inc. (TIHGI) Declares Cash Dividend
Travellers International Hotel Group, Inc. (TIHGI), owner and operator of Resorts World Manila, declared cash dividend of Php 0.07 per share equivalent to Php 1.1 billion or 20% on its net profit in 2014. The Company recorded Php5.5 billion in net income in 2014.
The cash dividend is payable on June 18, 2015 and record date has been set on June 11, 2015 to determine the common stockholders entitled to the cash dividend.
As of December 31, 2014, TIHGI posted Php31.6 billion in gross revenues. The Company’s financial condition remained robust with total assets at Php63.9 billion while total liabilities at Php24.8 billion for the same period.
TIHGI also maintained its net cash position at Php 4.9 billion for Q1 2015, while supporting the company’s aggressive expansion projects.
TIHGI’s Phase 2 and 3 expansion plans remain on track. The Marriott Grand Ballroom, the largest ballroom in the country opened its doors to the public in April 2015, while the Marriott West Wing will be completed by the first quarter of 2016. Phase 3 consisting of the Hilton Manila, the Sheraton Manila Hotel and the new wing of Maxims Hotel, including new gaming areas and additional retail space, will be completed by the end of 2017.
The Company remains confident in its ability to deliver sustainable growth while focusing on delivering quality of 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