DMCI declares P9.56 billion in special cash dividend

DMCI Holdings Inc., the listed holding company of the Consunji family, said Wednesday its board approved the declaration of P9.56 billion in special cash dividend following a hefty cash bonus from its coal and power subsidiaries.

DMCI said in a disclosure to the stock exchange shareholders as of record Oct. 24, 2023 would receive special cash dividend of P0.72 per common share. The dividends will be distributed on Nov. 9, 2023.

It said with the latest dividend declaration, DMCI’s cumulative dividend payout for 2023 is at P1.44 per share, a 20-percent increase from the P1.20 in total dividends distributed the prior year.

DMCI shareholders also received in April a total of P0.72 per common share representing regular (P0.61) and special (P0.11) cash dividends.

DMCO will end the year with P19.1 billion in dividend payments to shareholders, its highest total payout on record. The amount represents 61 percent of the company’s consolidated core net income in 2022.

The conglomerate has a dividend policy that commits to a dividend payout ratio of at least 25 percent of the preceding year’s consolidated core net income.

Semirara Mining and Power Corp., the coal and power subsidiary of DMCI, on Tuesday declared P14.88 billion in special cash dividends equivalent to P3.50 per share to eligible shareholders.