The Philippine food company has already declared ₱900 million in dividends this year. Matching last year’s roughly ₱1.5 billion distribution appears within reach, though much depends on whether a sharp buildup in inventory turns back into cash. RFM Corporation entered 2026 with a familiar attraction for investors: a generous dividend backed by a profitable food business and billions of pesos in liquid assets. Halfway through the year, that dividend still looks secure. The company has declared ₱900 million through June , leaving it about ₱600 million short of matching the roughly ₱1.5 billion distributed in 2025. RFM has enough cash and marketable investments to bridge the difference. But its latest financial statements present a less straightforward picture of where the money is coming from. RFM’s dividend is currently well supported by earnings and balance-sheet liquidity . It is not yet fully supported by reported 2026 free cash flow . The company remained profitable in the fi...