DMCI Holdings Inc. and Semirara Mining and Power Corp. of the Consunji group declared record cash dividends for 2021despite the severe impact of the pandemic on last year’s earnings.
DMCI said in a disclosure to the stock exchange its board of directors in a special meeting approved the declaration of P6.37 billion in special cash dividends. This is on top of the P6.37 billion in regular and special cash dividends paid out in April this year.
DMCI shareholders on record as of Oct. 26, 2021 would be entitled to a special cash dividend of P0.48 per share. Payment will be made on Nov. 10, 2021. With the additional special cash dividend, DMCI will end the year with P12.75 billion in total dividend payments, which represent 194 percent of the company’s consolidated core net income in 2020.
“The 194-percent dividend payout ratio is the highest in the history of DMCI Holdings whose dividend policy commits to at least 25 percent of the preceding year’s consolidated core net income,” the company said.
DMCI’s unit coal mining and power generation firm Semirara also declared a P7.4 billion special cash dividend. This is on top of the P5.3 billion in regular cash dividends paid out in April this year.
