Solar energy producer RASLAG Corp. announced a cash dividend payout of Php 75 million, consistent with last year’s distribution and exceeding the 50% cap set by the company’s dividend policy.
This steady dividend underscores RASLAG’s commitment to deliver value to shareholders while advancing with its expansion plans. The company is working towards increasing its renewable energy capacity to at least 1,000 megawatts by 2035.
Shareholders of record as of October 31, 2024, will receive Php 0.05 per share, with payments scheduled for November 25, 2024. As RASLAG continues to attract more investors, the company has also approved the conversion of existing unissued common shares into preferred shares. This strategic move will help fund ongoing expansion projects as the solar company works on several new initiatives in the near future, including a plant in Sta. Rosa set to add 140 MWP, 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.”
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 to date with a 36.646-megawatt peak capacity.
“We are excited to lead solar energy development in the Philippines with our upcoming expansion plans,” added 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. This initiative underscores the company’s strategic commitment to enhancing local employment opportunities and strengthening the broader economy. With the completion of RASLAG-4, Raslag’s total installed capacity will reach 77.844 megawatts, ensuring substantial long-term value for its shareholders.
