MikeLigalig.com

By Kit Bagaipo
The Bohol Chronicle

Bohol Light Company Inc. (BLCI) has paid out cash dividend to the provincial government amounting P3-million even as Gov. Erico Aumentado reiterated that the offer to re-acquire the shares of Salcon Power Corp.

This is the first time that the joint venture of the provincial government and Salcon in the twin utility companies - Bohol Light and Bohol Water Utilities Inc. (BWUI) - has realized a significant profit warranting the declaration of dividends.

Salcon senior vice president Alfred Ballesteros said in an interview with the Chronicle, that a 15-percent per share cash dividend was decided by the Bohol Light board during a meeting last December 2007.

The provincial government was paid out a total of P3,087,307 from its 30-percent ownership of Bohol Light.

This is also the first time that the province received a dividend from the joint venture since it was formed in 2000.

According to Ballesteros, Bohol Light operations is expected to turn in more profit in the coming years.