Shareholders of Consunji-led DMCI Holdings and Semirara Mining Corp. are set to receive a bumper sum – their biggest annual payout.
DMCI’s board of directors approved the declaration of P6.37 billion in special cash dividends or P0.48 per share to shareholders on record as of Oct. 26. Payment will be made on Nov. 10.
This is on top of the P6.37 billion in regular and special cash dividends paid out in April this year and brings the total dividend payments for 2021 to P12.75 billion, representing 194 percent of the company’s consolidated core earnings 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’s total annual dividend of P0.96 reflects a cash dividend yield of nearly 12 percent based on its October 11 closing price of P8.10.
DMCI saw its first half net income grow nearly five-fold to P9.5 billion, driven by the exceptional rebound of its coal, property and nickel businesses. Second quarter earnings tripled to P5.23 billion.
Subsidiary Semirara Mining and Power Corp. also approved P7.4 billon in special cash dividends. This will bring SMPC’s total dividend payout ratio to shareholders to P12.7 billion for the year.
SCC shareholders on record as of October 25 are entitled to a special cash dividend of P1.75 per share, the highest amount ever declared by the company. Ex-dividend date will be on October 20 while payment will be made on November 9.
The mining and power firm’s total annual dividend of P3 per share translates to a cash dividend yield of almost 12% based on the stock’ s closing price of P25.45 on October 11.