SM Investments Corp. of the Sy Group expressed optimism about its business outlook with the revival in economic activity.
Reflecting this optimism, the company declared an increase in dividend payout to over P7.5 billion, or P6.25 per share, in favor of all stockholders of record as of May 13, 2022. The dividends are payable on May 26, 2022.
The dividend declaration represents a 47-percent increase from the previous year’s P4.25 per share.
“We are encouraged by the continued recovery of our businesses which were severely affected by the pandemic. Our expansion plans remain on track and will accelerate as economic conditions improve,” SM Investments president and chief executive Frederic DyBuncio said.
SM, despite the challenges of the pandemic, opened 294 new retail stores in 2021. Alfamart surpassed 1,200 stores last year.
SM Prime Holdings also opened two new malls in the Philippines in 2021—SM City Daet, its first in Camarines Norte and SM City Grand Central in Caloocan City. It also opened MOA Square, the expanded wing of SM Mall of Asia which houses the biggest IKEA in the world.
