Globe turns 50 in PSE with P245-B market cap

The Philippine Stock Exchange (PSE) on Monday marked Globe Telecom Inc.’s (GLO) 50th year as a publicly listed company, celebrating its transformation from a cable and radio operator into one of the country’s top telecommunications firms with sustained value creation for shareholders.

PSE President and CEO Ramon Monzon, in his remarks during the bell-ringing ceremony, said Globe’s market capitalization had grown by an astonishing 232,643 percent — from its 1975 debut as Globe-Mackay Cable & Radio Corporation on the then Manila and Makati stock exchanges — to P248.49 billion as of 8 August

Consistent PSE presence

He highlighted Globe’s consistent presence in the Philippine Stock Exchange index (PSEi) since 2001 and in the Dividend Yield index since its launch in March 2022.

“If you invested P10,000 in Globe during its IPO, it would now be worth P863,517, an 8,535 percent increase. On top of that, you would have received P1,065,795 in dividends, for a total return of 19,193 percent,” Monzon noted.

Long track record

The company, majority-owned by the Ayala Group, has a long track record of dividend payouts, briefly pausing only when investing heavily in network expansion. It is also preparing a follow-on offering of preferred shares to raise fresh capital.

Beyond financial performance, Monzon cited Globe’s environmental, social, and governance (ESG) milestones, including its 10th consecutive year of inclusion in the FTSE4Good Index Series, recognizing its sustainability initiatives.

“As Globe evolved with the changing times, the PSE will continue to be a conduit for the company’s capital raising requirements,” Monzon said, adding that Globe’s 50-year journey mirrors the growth of the Philippine capital market.