Despair as BTCL withholds dividends to store cash

The decision has triggered despair amongst the corporation’s retail investors, many of whom have remained faithful to the group despite the fall in the value of their shares from the P1.15 listing price in 2016 to the current 86 thebe.

In financials released last week, the BTCL recorded comprehensive income of P106.4 million for the year ended March 31, 2020, down from P162 million for the previous year. Earnings per share were pegged at 10 thebe compared to 15 thebe the previous year.