Puregold Price Club, Inc. Approves Adoption of New Cash Dividend Policy
December 20, 2022 at 02:40 am EST
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In a meeting held on December 20, 2022, the Board of Directors of Puregold Price Club, Inc. has approved the following items: Adoption of New Cash Dividend Policy: Under the new dividend policy, Puregold intends to maintain an annual cash dividend payout ratio of at least 30% of consolidated core net income from the preceding year, subject to the requirements of applicable laws and regulations and the absence of circumstances that may restrict the payment of such dividends.
Puregold Price Club, Inc. is engaged in the business of trading goods, such as consumer products (canned goods, housewares, toiletries, dry goods, food products, pharmaceutical and medical goods and others) on a wholesale and retail basis. The Company operates in the retailing business segment. Its stores are divided into four store models: Hypermarket, Supermarket, Extras and Minimart. It has over 525 retail stores, consisting of 452 Puregold Stores, 22 S&R Membership Shopping Warehouses and 51 S&R New York Style Pizza (QSRs). Hypermarkets offer food and non-food products to retail customers and small business owners (stores include mini-marts, cafeterias, restaurants, bakeries, pharmacies). The Supermarket is primarily located in residential areas and offers a higher proportion of food to non-food products. It maintains two online platforms called, Sally and Rappit and is affiliated with other online delivery platforms, such as Pick-a-roo, Metromart, Lazada, and Shopee.
PUREGOLD PRICE CLUB, INC. 
