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The more notable development for investors was the higher payout. Keepers declared regular dividends totaling P1.74 billion, equivalent to P0.12 per share, representing 50 percent of its 2025 earnings. In 2024, Keepers declared a P1.45 billion in total dividend payout, equivalent to P0.10 per share.
The dividend will be paid on May 7, 2026, to shareholders on record as of April 17, 2026, and will be sourced from unrestricted retained earnings.
Strong sales volume from Alfonso
Net income after tax reached P3.56 billion in 2025, up 0.8 percent from P3.54 billion a year earlier, while consolidated net sales climbed 9 percent to P20.2 billion from P18.53 billion. The company attributed the growth to strong sales volumes in its imported brandy segment, particularly Alfonso, which benefited from premiumization trends and a continued recovery in on-premise drinking channels.
Between the lines
Profit quality showed some pressure. Gross profit inched up 1 percent to P5.28 billion, but margins narrowed as costs rose faster than revenues. Operating income declined 3.1 percent to P3.73 billion, indicating softer core profitability. A 44-percent surge in equity earnings from joint ventures and an associate helped offset this decline and supported overall net income growth.
The bottom line
Keepers maintained a healthy balance sheet, with a current ratio of 4.48:1 and a low debt-to-equity ratio of 0.21:1, giving it room to boost shareholder returns. Still, slightly weaker returns on assets and equity suggest the company will need to sustain volume growth and manage costs to support both earnings and its higher payout policy. —Vanessa Hidalgo |Ed: Corrie S. Narisma
