The group would extend its asset purchase scheme by another €2 trillion in a step towards increasing equity capital. GOKONGWEI-LED Robinsons Retail Holdings, Inc.
The service is sponsored by the Philippine Bourse.
Robinsons Retail President & Chief Executive Officer, Robina Gokongwei–Pe, said in a statement on Monday: “Our buyback program is consistent with our capital investment strategy, which includes our plans for organic development, e-commerce and higher dividends payouts.
Added to the 2 billion-dollar equity buyback scheme agreed on March 9, 2020 will be the additional share purchase.
The firm says it will execute a more equity buyback scheme in a good net cash situation.
“We trust Robinsons Retail’s development path as we move towards more flexible and agile ways of operation,” added Gokongwei-Pe.
As of the beginning of March this year, Robinsons Retail has repurchased approximately 24.7 million shares of P 1,5 billion.
In 2020, the firm concluded that net profits attributable to stock investors decreased by 25.2 per cent to P2.93 billion. Net revenue decreased 7.3% to P151.03 billion in the meantime.
The stock market securities Robinsons Retail declined by 2.25% or P1.20 on Monday and closed at P52.05 percent each.