Cosco Capital Inc., the listed retail holding firm of billionaire Lucio Co, announced on Monday the declaration of regular and special cash dividends totaling P2.79 billion, following a strong earnings performance in 2024.
The company’s consolidated net income rose 25 percent year-on-year to P15.5 billion, driven by solid operating results across its major business segments. Group revenues climbed 11 percent to P237 billion.
Its grocery retailing businesses—Puregold Price Club, Inc. and S&R Membership Shopping Club—remained the primary earnings driver, accounting for 68 percent of total net income. The liquor distribution segment contributed 23.5 percent, followed by commercial real estate (7 percent), energy and minerals (1 percent), and specialty retail (0.5 percent).
The grocery retail segment alone posted a 10 percent increase in consolidated revenues to P219.17 billion. Same-store sales rose 4.5 percent at Puregold stores and 6.4 percent at S&R Warehouse Clubs, supported by increased customer traffic and larger basket sizes. The segment’s net income surged 21 percent to P10.4 billion.
Cosco declared a regular cash dividend of P0.264 per share, amounting to P1.86 billion, for shareholders on record as of May 9, with payment scheduled on June 4. This equates to a 20 percent payout ratio and a 4.97 percent dividend yield, based on Friday’s closing price of P5.31.
Additionally, a special cash dividend of P0.132 per share, or P931 million in total, will be paid on September 30 to shareholders on record as of September 4. This represents a 10 percent payout ratio and a 2.48 percent yield.
The dividend declaration underscores Cosco’s commitment to returning value to shareholders while preserving capital for future expansion. It also signals confidence in the company’s stable cash flow and continued profitability amid evolving market conditions.
