Solar energy producer RASLAG Corp. announced a cash dividend payout of P75 million, consistent with last year’s distribution and exceeding the 50-percent cap set by the company’s dividend policy.
RASLAG said in a statement the steady dividend underscores its commitment to delivering value to shareholders, while advancing with its expansion plans.
The company said it is working towards increasing its renewable energy capacity to at least 1,000 megawatts by 2035.
Shareholders of record as of Oct. 31, 2024 will receive P0.05 per share, with payments scheduled for Nov. 25, 2024.
RASLAG said that as it continues to attract more investors, the company also approved the conversion of existing unissued common shares into preferred shares.
This move will help fund ongoing expansion projects as the solar company works on several new initiatives in the future, including a plant in Sta. Rosa, Nueva Ecija which would add 140-megawatt peak, along with two other plants in the pipeline that are expected to contribute 45 MWp and 58 MWp.
“We’ve been advocating for renewable energy since 2013, reinforcing our mission to light the future with renewables,” said Raslag president and chief executive Robert Nepomuceno.
“As we advance solar and renewable energy in the Philippines, our continued expansion plans will further strengthen our commitment to this industry and support local communities,” he said.
The recent completion of RASLAG’s fourth solar project in San Pablo, Magalang, Pampanga underscores the company’s ongoing expansion. It is the company’s largest facility with a 36.646-MWp capacity.
“We are excited to lead solar energy development in the Philippines with our upcoming expansion plans,” said Nepomuceno. “These initiatives will drive innovation and reinforce our commitment to sustainable growth in the region.”
The upcoming solar plant in Sta. Rosa, Nueva Ecija, is set to be developed by 2026.
