ATTENTION dividend investors - MWIDE to offer Perpetual Preferred Shares
Megawide Construction Corporation ( MWIDE ) has tapped RCBC Capital Corporation and PNB Capital as joint lead underwriters for the primary offer of series 2 non-voting perpetual preferred shares to raise 5 Billion Pesos. The dividend rate has yet to be set for the series 2 non-voting perpetual preferred shares. MWDE has outstanding preferred shares in the market trading under the symbol MWP . MWP has a dividend yield of 6.96%. The series 2 preferred shares may have the same dividend rate with that of the first series but we will have to wait for the final prospectus to confirm the final dividend rate. The COVID-19 pandemic restrictions affected the businesses of MWIDE resulting to a net loss of 617 Million Pesos in the first half of 2020. But cash flow from operations of MWIDE for 1H 2020 has more that doubled compared to that of 1H 2019. MWIDE has generated cash from its operation of 2.4 Billion Pesos during 1H 2020. This shows the resiliency of MWIDE’s businesses as ca...