The board of SM Prime Holdings Inc. approved the declaration of cash dividends of P0.097 per share amounting to P2.8 billion to stockholders of record as of May 11, 2022, payable on or before May 24, 2022, during the annual stockholders’ meeting held in Conrad, Manila.
SM Prime also reported that the company allotted P80 billion in capital expenditure for 2022 to continue its expansion plans in the malls and residential businesses.
“As we get pass through the challenges of the recent years, we are refocusing our efforts in continuing the expansion programs of our integrated developments across the country led by our malls and residential businesses. We will cultivate the learnings from past to achieve greater goals that will provide better opportunities and lives to many Filipinos,” said SM Prime president Jeffrey Lim.
SM Prime plans to open four new malls in the Philippines this year. The company recently opened SM City Roxas in Capiz on April 8. It will be followed by SM City Tuguegarao, SM City Sorsogon and SM City Tanza in Cavite.