MacroAsia Corp. is drawing fresh returns from its aviation services portfolio after its Cebu-based catering associate declared P95 million in cash dividends, giving the company a P38-million payout from the venture.

In a stock exchange disclosure Tuesday, MacroAsia said Cebu Pacific Catering Services, Inc. (CPCS) approved the dividend declaration during its regular board meeting on 28 August. The dividends are payable to shareholders on or before the end of September.

MacroAsia owns 40 percent of CPCS, translating to P38 million of the total payout and providing another stream of returns from its aviation-related investments.

CPCS is also 40-percent owned by Cathay Pacific Catering Services of Hong Kong, while MGO Pacific Resources Corp. holds the remaining 20 percent.

Formerly known as MATS Catering, CPCS was MacroAsia’s first venture into in-flight catering and remains part of the company’s broader exposure to the aviation industry.

The company is the only full-service airline catering provider at the Mactan-Cebu International Airport, giving the venture a foothold in one of the Philippines’ major aviation gateways.

The dividend declaration allows MacroAsia to extract fresh cash from that investment without changing its ownership in the catering company.