Citicore Renewable Energy declares first dividend since IPO after 2025 profit jump

Oliver Tan 
CREC president, CEO 

Tycoon Edgar Saavedra-backed Citicore Renewable Energy Corp. has declared its first cash dividend since listing on the Philippine Stock Exchange in 2024 after generating P1.15 billion in consolidated net income last year.

The renewable energy developer will distribute P250 million in cash dividends, equivalent to P0.0224 per share.

Shareholders on record as of July 17 will be entitled to the payout, which will be paid on Aug. 12.

The move marks an early milestone for a company that has spent the past two years expanding its renewable energy portfolio and project pipeline.

“Our dividend declaration reflects prudent balance between funding the continued high growth phase of the Company, at the same time rewarding shareholders with a decent yield return,” said CREC president and CEO Oliver Tan.

The company said the declaration follows continued growth in its renewable energy portfolio and development pipeline.

“As we continue to energize more projects, we are converting our pipeline into operating assets that support sustainable growth and shareholder value,” Tan said.

CREC generated net comprehensive income attributable to parent shareholders of P740.1 million in 2025.

—Edited by Miguel R. Camus 

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