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CID, Inc. 0 Makati City Metro Manila, 1229 +6392 8138403 |
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IP Converge Data Center, Inc. (“IP-Converge” or the “Company”; PSE: ‘CLOUD’), the country’s first and only Internet data center and cloud services provider listed on the Philippine Stock Exchange, announced that it has completed the second tranche of its dividend payment (“Payment”)
Online PR News – 26-April-2011 –IP Converge Data Center, Inc. (“IP-Converge” or the “Company”; PSE: ‘CLOUD’), the country’s first and only Internet data center and cloud services provider listed on the Philippine Stock Exchange, announced that it has completed the second tranche of its dividend payment (“Payment”). The Payment of P40 million was payable in two tranches. The first tranche was settled in January for shareholders as of December 31, 2010, and the second tranche was paid today, April 26, for shareholders on record as of March 31, 2011.
According to IP-Converge CFO David de Leon, the Company announced a dividend policy last December 2010, where up to 50 percent of free cash flow to equity may be declared as dividends.
”Because of IP-Converge’s strong operating cash flow we are able to provide our shareholders with an attractive return for 2010. At CLOUD’s current share price of Php2.72, the Php40 million dividend for 2011 translates to a yield of about eight percent (8%).”, says de Leon.
Enrique Y. Gonzalez, CEO of IP-Converge’s holding company IPVG Corp., states that, "Our declaration of regular dividends is our way of rewarding our shareholders. Due to the utility nature of our services and multi-year relationships with our clients, IP-Converge has extremely predictable and dependable cash flows, which will result in regular dividends. We have also now commenced with the construction of our 2nd data center in Bonifacio Global City, which should translate to further improvement in our financial performance."
IP-Converge recently reported its financial results for 2010. The Company declared earnings of Php66.2 million, a notable 89 percent increase from the Php35 million posted in the previous year. IP-Converge has been in operation for five years and has exhibited consistent growth and profitability for the past four. IP-Converge is the information technology & telecommunications subsidiary of publicly listed IPVG Corp. (PSE: IP).
About IP-Converge
IP-Converge™ (PSE: CLOUD) is the first and only Internet Data Center and Cloud Services Provider listed on the Philippine Stock Exchange. It is an information technology & telecommunications company, providing local and regional enterprises with an array of managed data services and cloud-based business solutions at international standards. The company operates true carrier-neutral, telco-grade Internet Data Center facilities in the Philippines as well as its own Asia-Pacific network infrastructure, and works with global technology leaders to deliver only the best solutions and services to its clientele. An ISO 9001:2008 Certified company, the foundation of IP-Converge's business is centered on customer satisfaction through high-quality, on-time delivery, and a personalized "boutique" approach to clients. For more information, visit www.ip-converge.com.
Press Contact: Niño Valmonte
Director – Corporate Communications, IP-Converge
nino.valmonte@ip-converge.com / 09175036100
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