Philippines largest telecommunications company PLDT Inc. said Thursday that its earnings this year are shielded from the recent discovery of P48-billion in capital expenditure (CapEx) overspending.
In a disclosure to the Philippine Stock Exchange, the Pangilinan-led telco giant said its earning before interest, taxes, depreciation, and amortization and core telco earnings are not affected by the CapEx overrun issue.
Moreover, PLDT said it expects to be able to pay the balance of the regular dividend for the full year 2022 estimated at P45 per share; and the remaining special dividend of P42 per share. “The bulk of the P48B CapEx overspend involves the procurement of network equipment necessary to provide stronger connectivity to subscribers, specifically 5G cell sites for our mobile network and fiber rollout. There will be no write-off of these assets,” said Pangilinan.
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