DMCI declares special dividend of 72 centavos per share

MANILA, Philippines — Consunji-led DMCI Holdings Inc., the listed engineering power and infrastructure conglomerate, will close the year with P15.9 billion in dividend payments to shareholders.

The amount represents 92 percent of the company’s consolidated core net income last year, in line with its dividends policy of having a dividend payout ratio of at least 25 percent of the preceding year’s consolidated core net income.

In a disclosure yesterday, DMCI said its board of directors approved the declaration of a P0.72 per common share in special cash dividends for shareholders on record as of Nov. 2. DMCI has set the payment on Nov. 16.

Last April, DMCI paid its eligible shareholders a total of P0.48 per common share in regular and special cash dividends.

“With this October declaration, DMCI’s total dividend payout for 2022 will be P1.20, 25 percent more than the P0.96 in total dividends declared last year. The total payout translates to a cash dividend yield of 11.32 percent based on its Oct. 17, 2022 closing price of P10.60,” the company said.

In 2021, DMCI posted strong results or a net income of P17.4 billion, the highest in its 26-year history, despite the debilitating COVID-19 health pandemic.

DMCI’s coal and power company, Semirara Mining and Power Corp. also approved the declaration of P3.50 per outstanding common share in special cash dividends for shareholders on record as of Oct. 31.

This is 100 percent more than the P1.75 special cash dividends declared last year, and the highest dividend ever declared by the company.  Payment will be made on Nov. 15.

Last April, the company paid out P1.50 per share in regular cash dividends. With the additional special cash dividend, the total dividend payout of SCC to its shareholders for 2022 will be P5 per share, the highest in its corporate history.

It also translates to a cash dividend yield of 12.34 percent based on its Oct. 14 closing price of P40.50.

Last year, the company posted a net income of P16.2 billion, the highest in its 41-year history. The 393-percent increase from P3.3 billion the previous year was mainly attributable to an increase in coal selling prices and a growth in shipments.