SMIC grants P5 billion cash dividends

MANILA, Philippines  — SM Investments Corp. (SMIC) has declared cash dividends to shareholders worth P5.1 billion, equivalent to P4.25 per share.

The company’s board approved the declaration of cash dividends to shareholders on record as of July 9, 2020 and payable on July 23, 2020. This is equivalent to 50 percent of its 2019 parent net income.

As it maintains payouts amid the constraints of the pandemic, SMIC is hopeful of a recovery in business and on the return of vibrancy in consumer activity.

“This pandemic has made us focus even more on two important things for our customers: convenience and safety. And two things for ourselves: adaptability and transformation. We have been improving both our online and physical experience and operations across the group - and building new ways to serve customers: from banking, to retail, malls, and property,” SMIC vice chair Teresita Sy Coson said.

“Coming from the lockdown, we’ve been able to operate hybrid ways of reaching our customers and we are excited to strengthen these offerings,” Coson added.

SMIC will continue to build its online assets to expand its market reach and meet customers’ needs.

SMIC president Frederic DyBuncio said the acceptance of ecommerce in light of the pandemic has hastened as more people have explored various digital channels.

“This pandemic has revealed that digital technology offers fundamental opportunities to connect and serve communities. We will continue to combine our online and offline capabilities to meet our customers evolving needs,” DyBuncio said.

During the lockdown period, SM malls and retailers have initiated click-and-collect, curbside pick-up, smartphone messaging communities for deliveries and concierge style personal shopping via social media in response to increased customer needs.

“We are all actively finding new ways to improve our customer experience and operations, and we aim to transform into a stronger and more adaptive SM after the crisis,” Coson added.