PLDT Among Top Dividend Payers as Investors Seek Shelter From Market Slide

Amid growing market turbulence, PLDT Inc. (PSE: TEL) has emerged as a top dividend play for 2025, according to the latest strategy note from Macquarie Capital. With the Philippine Stock Exchange index (PCOMP) dropping 4.3% to a new 52-week low of 5,822.85 as of April 7, investors are shifting focus toward stability and income—turning to companies like PLDT, whose steady dividends help offset the market’s growing unpredictability.

In its April 8 report, Macquarie reiterated its “Outperform” rating on PLDT, citing a 2025 forecast dividend yield of 9.3%—among the highest in the market and well above the PCOMP’s 3.7% average. The firm also set a target price of P1,800, representing a 47% upside from PLDT’s April 7 closing price of approximately P1,224. Telecoms stand out as dividend contributors, and PLDT ranks among the top payers, supported by a solid estimated 2025 return on equity of 33%.

However, the report also flags risks: “Revenues could weaken on lower pre-paid ARPU and lower-quality customer base. Risk of dividends declining in tandem for FY25.” Despite this, it emphasized the importance of revisiting high-quality dividend names as investors seek safety in a volatile market. In this context, PLDT remains one of the market’s most attractive income plays.