Belle Corporation (PSE:BEL) reported an improved financial performance for 2024, demonstrating a resilient business model amid a challenging economic landscape. In its latest disclosure, the company announced a 5% increase in consolidated revenues—rising from approximately PHP5.6 billion in 2023 to PHP5.89 billion in 2024—and a 7% increase in consolidated recurring net income, which climbed from about PHP2.28 billion to PHP2.44 billion. Consolidated net income, however, remained steady at around PHP2.43 billion.
In recognition of these results, Belle’s Board of Directors declared a regular cash dividend of PHP0.06 per share. The total dividend payout is estimated at PHP582 million, with the payment scheduled for March 21, 2025, and shareholders of record as of March 7, 2025.
Key Financial Highlights
- Revenue Growth
Consolidated revenues increased by 5%, reaching PHP5.89 billion in 2024. - Improved Recurring Net Income
A 7% rise brought consolidated recurring net income to PHP2.44 billion. - Stable Net Income
Overall net income held steady at approximately PHP2.43 billion. - Dividend Declaration
A cash dividend of PHP0.06 per share, totaling PHP582 million, will be paid on March 21, 2025.
Armin Raquel Santos, President and Chief Executive Officer of Belle, noted, “In 2024, the Belle Group remained profitable due to the resilience of our businesses, strategic focus and healthy balance sheet. Relying on our tried and tested business models, we worked with our management teams, employees and business partners to provide the finer things in life to our loyal patrons and customers.”
Belle Corporation is well known for its role in developing integrated resort destinations and leisure properties in the Philippines, including the iconic City of Dreams Manila. Through its majority-owned subsidiary, Premium Leisure Corp (PLC), Belle plays a key role in the operation and revenue-sharing arrangements of the resort, alongside its partner Melco Resorts & Entertainment. Additionally, Belle’s diversified portfolio includes significant real estate assets in Tagaytay Highlands, Midlands, and Greenlands, supporting its long-term growth and stability.
Beyond its current performance, Belle has signaled its intent to expand its casino-resort presence by filing for a gaming license in Clark—a move that could further diversify its revenue streams and enhance its market position in the integrated resort sector.
For investors, the combination of steady profitability and the dividend payout underscores Belle’s commitment to returning value to its shareholders. The results also reflect the company’s ability to maintain stable earnings despite market uncertainties, a positive indicator for long-term financial health.
Overall, Belle Corporation’s 2024 performance and the approved dividend offer a comprehensive snapshot of a business that continues to leverage its strategic assets and robust business model in the competitive Philippine leisure and real estate markets.