GT Capital Holdings, Inc., the listed investment holding company of the Ty Group, said Friday it consolidated net income last year surged 57 percent to P28.7 billion, driven mainly by its banking, car sales and property units.
It said Metropolitan Bank & Trust Co., which improved net income to P42.2 billion; Toyota Motor Philippines, which realized net income of P13.8 billion; and Federal Land that reported P2.1 billion in net income. The company added that affiliate AXA Philippines and associate Metro Pacific Investments Corp. also added to bottomline growth.
GT Capital said its board approved a total cash dividend of P8.00 per share for the year, with regular dividend doubled to P6 plus a special cash dividend of P2. The pay-out of P5.00 dividend per share, made up of P3.00 of regular dividends and P2.00 of special dividends, will be given to shareholders on record as of March 27. The exact date for the release of the remaining regular dividend of P3.00 per share will be disclosed after the board meeting in August.
As disposable incomes rise, improved living standards rise in tandem with demand for goods and services. Together with our strategic global partners, the GT Capital Group is well positioned to cater to the needs and preferences of this expanding segment. Given the outstanding growth last year, we expect a more tempered growth for 2024.‖
GT Capital President Carmelo Maria Luza Bautista said that 2023 was an exceptional year for both GT Capital and its various units. He said the improving per capital gross domestic product has fostered the emergence of an upper middle-class segment within the economy, a development favorable for various companies in its investment portfolio.
“Together with our strategic global partners, the GT Capital Group is well positioned to cater to the needs and preferences of this expanding segment. Given the outstanding growth last year, we expect a more tempered growth for 2024,” Bautista said.
