SM Investments Corp. on Wednesday declared cash dividends to shareholders worth P5.1 billion, or P4.25 per share.
The board of directors of SM approved the declaration of cash dividends to shareholders on record as of July 9, 2020 and payable on July 23, 2020. The dividends are equivalent to 50 percent of the parent’s net income in 2019.
SM said as it maintains payouts amid the constraints of the pandemic, it is hopeful of a recovery in business and on the return of vibrancy in consumer activity.
“This pandemic has made us focus even more on two important things for our customers: convenience and safety. And two things for ourselves: adaptability and transformation. We have been improving both our online and physical experience and operations across the group – and building new ways to serve customers: from banking, to retail, malls, and property,” SM vice chair Teresita Sy Coson said.
“Coming from the lockdown, we’ve been able to operate hybrid ways of reaching our customers and we are excited to strengthen these offerings,” she said.
