Manila Electric Dividends and Buybacks
Dividend criteria checks 3/6
Manila Electric is a dividend paying company with a current yield of 5.83% that is well covered by earnings. Next payment date is on 23rd September, 2026 with an ex-dividend date of 27th August, 2026.
Key information
5.8%
Dividend yield
n/a
Buyback Yield
| Total Shareholder Yield | n/a |
| Future Dividend Yield | 6.6% |
| Dividend Growth | 12.9% |
| Next dividend pay date | 23 Sep 26 |
| Ex dividend date | 27 Aug 26 |
| Dividend per share | n/a |
| Payout ratio | 60% |
Recent dividend and buyback updates
Recent updates
New Narrative • Sep 08
Battery Storage And LNG Expansion Will Recast Earnings Mix Over The Next Decade
Catalysts About Manila Electric Manila Electric distributes electricity and operates power generation and retail electricity supply businesses across the Philippines and abroad. What are the underlying business or industry changes driving this perspective?
Narrative Update • Aug 25
MER: Future Returns Will Rely On Reliable Dividends And Grid Digitalization
Analysts have trimmed their price target for Manila Electric to around ₱636 from about ₱664, reflecting updated assumptions for slower revenue growth, a slightly lower profit margin, and a modestly higher future P/E multiple and discount rate. What's in the News Manila Electric has scheduled a board meeting on July 29, 2026, to review financial and operating results for the first six months of 2026, with comparatives for 2025.
New Narrative • Aug 25
Fuel Price And Regulatory Risks Will Shape Future Solar And Battery Expansion
Catalysts About Manila Electric Manila Electric distributes electricity and operates power generation and retail electricity supply businesses in the Philippines and Singapore. What are the underlying business or industry changes driving this perspective?Narrative Update • Jun 24
MER: Future Returns Will Rely On Dividends And Power Grid Digitalization
Analysts have trimmed their fair value estimate for Manila Electric slightly from ₱665.77 to ₱663.67 as they recalibrate assumptions toward more measured revenue growth, a modestly higher profit margin, and a slightly lower future P/E multiple. What’s in the News for Manila Electric Manila Electric has scheduled a Board meeting on May 4, 2026.Narrative Update • Jun 07
MER: Future Returns Will Rely On Dividends And Power Grid Digitalization
Analysts have nudged their fair value estimate for Manila Electric slightly higher from ₱661.86 to ₱665.77, reflecting updated assumptions for revenue growth, profit margins and future P/E levels. What's in the News Manila Electric has scheduled a board meeting for May 4, 2026, to consider and approve the company's financial and operating results for the first quarter of 2026, with comparatives for the first quarter of 2025.Narrative Update • May 15
MER: Future Returns Will Rely On Dividends And Power Grid Digitalization
Analysts have lifted their fair value price target for Manila Electric from ₱637.05 to ₱661.86, citing updated assumptions for revenue growth, profit margins, the discount rate and a slightly lower future P/E multiple. What's in the News Board meeting scheduled on May 4, 2026 to review Manila Electric Company’s financial and operating results for the first quarter of 2026, with comparisons against the first quarter of 2025 (Key Developments).Narrative Update • Apr 25
MER: Future Returns Will Rely On Dividends And Grid Digitalization Collaboration
Analysts have increased their fair value estimate for Manila Electric slightly, from ₱636.41 to ₱637.05. This reflects updated assumptions that include modestly lower revenue growth, a small uplift in profit margin and a largely unchanged forward P/E multiple.Narrative Update • Apr 10
MER: Stable Outlook Will Rely On Dividends And Grid Digitalization Initiatives
Analysts have kept their ₱636.41 price target for Manila Electric unchanged, citing essentially stable assumptions around the discount rate, revenue growth, profit margins, and future P/E expectations. What's in the News Huawei, Meralco, and SANXING Ningbo launched an Intelligent Distribution Solution that focuses on reliable communication, edge computing, cloud edge collaboration, and low voltage transparency for power distribution networks (Key Developments).Narrative Update • Mar 27
MER: Steady Outlook As Dividends And Gas Contract Extension Support Future Returns
Narrative Update on Manila Electric Price Target The analyst price target for Manila Electric remains effectively unchanged at around ₱636.41, as analysts keep their assumptions for discount rate, revenue growth, profit margins and future P/E broadly consistent with prior estimates. What's in the News Huawei, Meralco, and SANXING Ningbo launched an Intelligent Distribution Solution that focuses on reliable communication, edge computing, cloud edge collaboration, and low voltage transparency for a 400 V distribution network, aiming to integrate digital systems across the grid (Key Developments).Narrative Update • Mar 12
MER: Dividend Plans And Contract Extension Will Support Steady Forward Outlook
Analysts have raised their price target on Manila Electric, moving fair value from ₱623.63 to about ₱636.41 as they incorporate updated assumptions on revenue growth, profit margins, the discount rate, and future P/E. What's in the News A board meeting is scheduled on Feb 25, 2026 to review full year 2025 financial and operating results with 2024 comparatives and to consider a cash dividend of ₱16.672 per share, with a record date on Mar 26, 2026 and payment on Apr 20, 2026 (Key Developments).Narrative Update • Feb 25
MER: Contract Extension And Board Actions Will Support Steady Forward Outlook
Analysts have kept their price target for Manila Electric broadly unchanged at around ₱623.63, with only marginal tweaks to revenue growth, profit margin, discount rate, and future P/E assumptions reflected in their latest update. What's in the News The Energy Regulatory Commission approved a five month extension of Manila Electric Co.'s gas power supply contract with First Gen unit First Gas Power Corp., allowing Meralco to keep sourcing power from the Sta.Narrative Update • Feb 11
MER: Contract Extension And Board Calendar Will Support Steady Forward Outlook
Analysts have lifted their fair value estimate for Manila Electric to ₱623.63 from ₱614.25, citing updated assumptions on the discount rate, revenue growth, profit margin and future P/E. What's in the News The Energy Regulatory Commission approved a five month extension of Meralco's gas power supply contract with First Gen's First Gas Power Corp., allowing continued sourcing from the Sta.Narrative Update • Jan 27
MER: Board Calendar And Steady P/E Assumptions Will Support Fair Outlook
Analysts have raised their price target for Manila Electric to ₱614.25 from ₱603.38, reflecting updated assumptions that include slightly softer revenue growth, a small improvement in profit margin, and a marginally higher future P/E of 14.92x. What's in the News Board meeting set for January 26, 2026, to review and approve the agenda and notice for the annual stockholders' meeting scheduled on June 30, 2026, at 10:00 a.m. (Key Developments) Directors will consider April 10, 2026, as the record date for determining stockholders entitled to receive notice of and vote at the June 30, 2026, annual stockholders' meeting.Narrative Update • Jan 12
MER: Smart Grid Rollout And Steady Metrics Will Support Fair Valuation
Analysts have lifted their fair value estimate for Manila Electric slightly, from ₱598.21 to about ₱603.38. This reflects refreshed views on its projected revenue growth, profit margins, and future P/E assumptions.Narrative Update • Dec 26
MER: Smart Grid Expansion Will Support Stable Margins And Fairly Valued Outlook
Analysts have maintained their price target for Manila Electric at PHP 598.21, as slightly softer long term revenue growth assumptions are seen as being offset by a modestly stronger profit margin outlook and an unchanged future valuation multiple. What's in the News A board meeting is set for December 3, 2025 to approve various rank conferments effective January 1, 2026 (Key Developments) A board meeting is scheduled on October 27, 2025 to approve Manila Electric's financial and operating results for the first nine months of 2025, with 2024 comparatives (Key Developments) An Itron collaboration has been announced to deploy Advanced Metering Infrastructure across Metro Manila, starting with 73,000 endpoints as part of Meralco's multi year smart grid modernization program (Key Developments) Valuation Changes Fair Value: Unchanged at approximately ₱598.21 per share, indicating a stable overall valuation outlook.Narrative Update • Dec 12
MER: Smart Grid Rollout Will Support Stable Outlook And Customer Experience
Narrative Update on Manila Electric Analysts have maintained their price target for Manila Electric at PHP 598.21 per share, reflecting unchanged assumptions on discount rate, revenue growth, profit margins, and future valuation multiples. This signals steady confidence in the company’s current earnings and growth outlook.Narrative Update • Nov 28
MER: Fair Value Maintained as Smart Grid Connectivity Set to Expand
Analysts have maintained their price target for Manila Electric at ₱598.21 per share, citing minimal changes in growth forecasts and stable profit margin expectations as the rationale for the steady outlook. What's in the News Manila Electric Company will hold a Board Meeting on October 27, 2025 to approve the Company's financial and operating results for the first nine months of 2025.Narrative Update • Nov 13
MER: Fair Value Supported as Smart Grid Rollout Poised to Advance
Narrative Update: Manila Electric Analyst Price Target Adjustment Analysts have maintained their fair value estimate for Manila Electric at ₱598.21 per share. They cite modest improvements in projected revenue growth and profit margin, which are balanced by a slightly higher discount rate and a marginally lower future price-to-earnings ratio.Narrative Update • Oct 30
MER: Smart Grid Modernization Will Drive Improved Customer Satisfaction And Energy Management
Analysts have raised the fair value estimate for Manila Electric from ₱588.56 to ₱598.21. This change is attributed to updated projections, even though growth and margin expectations have slightly moderated.Narrative Update • Sep 15
Large-scale Renewables And Grid Modernization Will Shape Future Growth
Manila Electric’s consensus revenue growth forecast has edged down slightly, while its future P/E remains stable, resulting in only a marginal increase in the analyst price target from ₱582.64 to ₱588.56. What's in the News Board approved cash dividends of PhP11.328 per share, payable to shareholders of record as of August 27, 2025.
New Narrative • Nov 25
Meralco's Expanding Network And Renewable Energy Innovations Power Growth Potential
Strong growth in sales volume and power generation, including renewable projects, is set to boost future revenues and operational margins.Stability and Growth of Payments
Fetching dividends data
Stable Dividend: MER's dividend payments have been volatile in the past 10 years.
Growing Dividend: MER's dividend payments have increased over the past 10 years.
Dividend Yield vs Market
| Manila Electric Dividend Yield vs Market |
|---|
| Segment | Dividend Yield |
|---|---|
| Company (MER) | 5.8% |
| Market Bottom 25% (PH) | 2.4% |
| Market Top 25% (PH) | 6.6% |
| Industry Average (Electric Utilities) | 3.3% |
| Analyst forecast (MER) (up to 3 years) | 6.6% |
Notable Dividend: MER's dividend (5.83%) is higher than the bottom 25% of dividend payers in the PH market (2.36%).
High Dividend: MER's dividend (5.83%) is low compared to the top 25% of dividend payers in the PH market (6.6%).
Earnings Payout to Shareholders
Earnings Coverage: With its reasonable payout ratio (59.6%), MER's dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: MER is paying a dividend but the company has no free cash flows.
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/10 01:22 |
| End of Day Share Price | 2026/09/10 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Manila Electric Company is covered by 15 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Julian Vincent Roxas | BofA Global Research |
| Eunice Dolatre | CGS International |
| Jan Derrick Guarin | CLSA |