SM Prime declares P2.8-B cash dividend

SM Prime Holdings Inc. reported that its Board of Directors has approved the declaration of cash dividends of P0.097 per share, amounting to P2.8 billion.

In a disclosure to the Philippine Stock Exchange, the firm said all stockholders of record as of May 11, 2022 will be entitled to the dividend which is payable on or before May 24, 2022.

SM Prime also reported that it has allotted P80 billion capital expenditure for 2022 to continue its expansion plans in its malls and residential businesses, with due consideration to the challenges brought about by the pandemic.

“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,” SM Prime President Jeffrey Lim said.

He added that, “We will cultivate the learnings from past to achieve greater goals that will provide better opportunities and lives to many Filipinos.”

SM Prime targets to open four new malls in the Philippines this year. The Company recently opened SM City Roxas in Capiz last April 8, and this will be followed by SM City Tuguegarao, SM City Sorsogon, and SM City Tanza in Cavite.

For its residential business segment, SM Prime aims to launch 15,000 to 20,000 residential units, subject to government approval of licenses to sell.

Likewise, this year, SM Prime is set to launch FourE-Com Center in the Mall of Asia Complex, Pasay City and SMX Clark in Pampanga to further enhance its integrated property development plan in these areas.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.