Releases cash dividends equivalent to 114 percent of full 2011 net income
GMA Network, Incorporated (GMA), the leading broadcast media company in the Philippines, hit consolidated revenues worth P13.083 billion in 2011.
Notwithstanding the absence of P2.054 billion worth of revenues from political advertisements generated in 2010 and the global impact of financial crisis in Europe and slow economic recovery in the US last year, the Company delivered a fairly competitive business performance.
In fact, despite the cutback in the advertising budget of top multinationals whose headquarters are based abroad, the Network’s leadership in nationwide ratings won for the Company a substantial portion of the available ad spend.
GMA Channel 7, the Company’s top performing business unit and the country’s most watched television station, posted an eight-percent revenue growth from regular advertising during the financial period versus the preceding year, more than double the gross national product (GNP) growth rate of only 3.5 percent in 2011.
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