DMCI Holdings, Inc., a listed construction group, said Wednesday its board approved a special cash dividend of P0.72 per share for its shareholders on record as of 24 October.
DMCI shares will trade minus the dividend on 23 October while the distribution of the dividend is set on 9 November.
The special cash dividend adds to the total P0.72 regular and special cash dividends DMCI paid in April, bring the total for the year to P1.44 a share, or 20 percent more than the total P1.20 in 2022.
Based on the stock’s 10 October closing price of P10.80, DMCI’s total cash dividend translates to dividend yield of 13 percent.
In all, the cash dividend payout this year will total P19.1 billion, its highest total payout ever. The amount represents 61 percent of the company’s consolidated core net income in 2022.
DMCI Holdings has a dividend policy that commits to a dividend payout ratio of at least 25 percent of the preceding year’s consolidated core net income.
