DMCI to pay record dividends

MANILA – The Consunji family conglomerate, DMCI Holdings Inc., which owns energy and commodities firm Semirara Mining and Power, is showering investors with a record P19 billion in dividend payout this year.

The holding company said on Wednesday its board had approved a special cash dividend of P0.72 per share payable on Nov. 9 to stockholders on record as of Oct 24 this year.

This follows DMCI Holdings’ April dividend payout, where eligible shareholders received a total of P0.72 per common share representing regular (P0.61) and special (P0.11) cash dividends.

“In all, [DMCI] will end the year with P19.1 billion in dividend payment to its shareholders, its highest total payout ever. The amount represents 61 percent of the company’s consolidated core net income in 2022,” the company said in a statement on Wednesday.

The payout was also above its currency policy to pay at least 25 percent of the preceding year’s consolidated core net income.

Apart from Semirara, DMCI’s businesses span nickel mining, power, water services (Maynilad Water Services), real estate (DMCI Homes) and construction (D.M. Consunji Inc.).

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The article was originally published in Inquirer.NET and written by Miguel R. Camus.