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Byline: Kristine Jane R. Liu
More companies distributed profits to shareholders last year but analysts said the trend is not likely to continue this year given the economic slowdown.
In a statement, the Philippine Stock Exchange (PSE) said cash dividends declared by listed companies grew by 18.8% to P219.24 billion last year from P184.58 billion in 2007, reflecting an increase in earnings.
The PSE said a total of 91 firms out of 245 listed companies declared cash payouts, representing 37% of all listed firms. This was an increase from 84 companies or 35% of listed companies in 2007.
"The increase in dividends declared by listed companies is …