A month from now, the Consunji family will at least be P5.4 billion richer, in cash, following the decision of listed DMCI Holdings Inc. board to declare cash dividends that total P7.97 billion, or P0.60 per share.
Dacon Corp. and DFC Holdings Inc., both privately-held investment holding companies of the Consunji family, own a total 67.92 percent of DMCI Holdings, whose business interests span power generation, coal and nickel mining, real estate, water concession, and construction.
The cash dividend payout consists of a regular dividend of P0.35 per share and a special dividend of P0.25 per share. These dividends will be sourced from the DMCI Holdings’ unappropriated retained earnings, which at the end of 2024 stood at P90.8 billion.
This dividend payout represents 42 percent of DMCI Holdings’s projected core net income of P18.8 billion for 2024, significantly exceeding the company’s dividend policy of distributing at least 25 percent of the previous year’s core earnings.
Shareholders recorded as of April 10, will be entitled to receive the dividends. Share of DMCI Holdings will trade minus the dividends on April 8, with payment scheduled for April 24.
Based on DMCI’s closing stock price of P11.50 on March 24, the declared dividends translate to a dividend yield of 5.2 percent.
