Dominion Holdings Inc. (DHI), formerly BDO Leasing and Finance Inc., posted a higher net income of P134.5 million in the first half of 2024, compared to P125.3 million in the same period in 2023, as it benefited from the high-interest rate environment and the reversal of provisions for probable losses on bond investments, which matured in the second quarter of 2024.
Its investment portfolio declined to P2.0 billion as of June 2024 from P6.1 billion in June 2023, while assets contracted to P3.3 billion from P6.3 billion, respectively, from a cash dividend declaration amounting to P3.2 billion.
Dominion’s board of directors on April 12, 2024 approved the declaration of cash dividends of P1.50 per common share. The dividends were declared in favor of stockholders on record as of April 30, 2024 and paid on May 10, 2024. As a result, stockholders’ equity contracted to P3.3 billion from P6.4 billion as of end-2023.
