Lucio Tan’s MacroAsia shares climb as catering arm declares cash dividends

The airline catering arm of taipan Lucio Tan’s group has declared P50 million in cash dividends after its Sept. 10 board meeting.

MacroAsia Corp., which holds 67 percent of MacroAsia Catering Services, will collect P33.5 million from the payout. 

The balance will go to Singapore’s SATS Ltd., which owns the remaining 33 percent. 

The dividends are payable on or before Oct. 31 to shareholders of record as of Sept. 15. 

MacroAsia Catering dominates meal services at NAIA, serving leading carriers. 

MacroAsia shares rose nearly 4 percent on Wednesday morning to P3.99 each, outpacing the broader PSE index’s 0.23 percent gain. 

—Edited by Miguel R. Camus