Megawide Construction Corp. said Monday its board of directors has approved an increase to its dividend declaration policy, raising the maximum payout to 50 percent of its previous year’s net income, from the previous 30 percent.
The company stated in a disclosure to the stock exchange that this decision was made “pursuant to the resolution approved by Megawide Construction Corporation’s Board of Directors on 19 September 2025.”
Megawide said the increase is part of its strategy to enhance shareholder value and demonstrates confidence in its financial standing. The decision to raise the dividend payout comes as the company focuses on reducing its debt and improving its balance sheet.
Earlier in the month, Megawide announced it would receive P9.4 billion in advances from its parent company, Citicore Holdings Investment Inc. (CHII), and its affiliate, Citicore Power Inc. (CPI). This infusion of capital will be used to pay down its P36 billion debt, as of the end of June. The company projects this will lead to interest cost savings of P700 million annually starting in 2027.
Since the beginning of September, Megawide’s share price has jumped more than 65 percent, from P2.08 to P3.45. Jenniffer B. Austria
