DMCI declares P8 billion in dividends

Consunji-led DMCI Holdings Inc. has approved the distribution of %u20B17.97 billion in cash dividends, equivalent to %u20B10.60 per share, rewarding shareholders with 42 percent of its 2024 core net income.

In a disclosure to the Philippine Stock Exchange, the company stated that the dividends consist of a regular payout of %u20B10.35 per share and a special dividend of %u20B10.25 per share. These will be sourced from unappropriated retained earnings as of March 24, 2025.

Shareholders on record as of April 10, 2025, will be entitled to the cash dividends, with the ex-dividend date set for April 8 and payment scheduled on April 24. At DMCI’s closing price of %u20B111.50 on March 24, the total dividends translate to a 5.2 percent yield.

The payout significantly exceeds the company’s dividend policy of distributing at least 25 percent of the previous year’s core earnings.

DMCI is also ramping up investments this year with a planned capital expenditure of around %u20B170 billion, including affiliate Maynilad Water Services Inc., which is set to receive %u20B141 billion for expansion and service improvement projects. This figure is 45 percent higher than the %u20B148.3 billion spent in 2024.

Executive Vice President and CFO Herbert Consunji noted that Semirara Mining and Power Corp. would continue to be the company’s largest revenue contributor. Off-grid power unit DMCI Power Corp. is also expected to post strong growth, although it remains a smaller contributor relative to other units.

In 2024, DMCI recorded a 21 percent decline in net income to %u20B119 billion from %u20B124 billion in 2023 due to weaker commodity and electricity prices, lower construction accomplishments, and softer demand in the real estate market. Despite these headwinds, record-high coal shipments, power generation, and robust contributions from water utility and nickel mining segments helped cushion the decline.

Chairman and President Isidro Consunji emphasized the company’s resilience: “While some of our key businesses continue to face headwinds, our diversified portfolio helped mitigate the impact of challenging market conditions.”

Looking ahead, Consunji said DMCI will focus on strengthening its group ecosystem, adding a cement segment, and enhancing operational efficiencies to adapt to evolving market dynamics.