The board of food and beverage firm RFM Corp. approved another P200 million in cash dividend equivalent to P0.05936 per share.
The dividends are payable on May 26, 2025, to shareholders on record as of April 29, 2025. This brings the total declared cash dividends for 2025 to P400 million.
The board of RFM also approved a P200-million cash dividend or P0.05936 per share in January.
RFM aims for mid- to high-single digit growth in revenue and income in 2025 amid easing prices of raw materials.
RFM president and chief executive Jose Ma. Concepcion III said in a disclosure to the stock exchange this year’s growth would be driven by strong performance in its ice cream, milk, pasta, flour, bread and mixes businesses.
First-quarter preliminary unaudited results saw income increase 53 percent to P309 million and sales rise 3 percent to P4.5 billion.
Meanwhile, Concepcion said Unilever’s decision to separate its global ice cream business from its other businesses like beauty, home care and food products would have a significant impact on ice cream business.
Consumer goods giant Unilever is RFM’s joint venture partner in operating Selecta. The ice cream joint venture manufactures and sells the Selecta Ice Cream as well as Cornetto and Magnum brands.
Concepcion said Unilever announced in March its intention to separate its ice cream division from other personal care products.
“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,” Concepcion said.
“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,” he said.
