DMCI Holdings, Inc. reported that its Board of Directors has approved the declaration of P9.56 billion, or P0.72 per common share, in special cash dividends following a hefty cash bonus from its coal and power subsidiary.

In a disclosure to the Philippine Stock Exchange, the firm said shareholders on record as of November 2, 2022 will be entitled to the dividend. Ex-dividend date will be on October 27, 2022, while payment will be made on November 16, 2022.

Last April, DMC paid its eligible shareholders a total of P0.48 per common share in regular and special cash dividends.

With this October declaration, DMC’s total dividend payout for 2022 will be P1.20, 25 percent more than the P0.96 in total dividends declared last year.

The total payout translates to a cash dividend yield of 11.32 percent based on its October 17, 2022 closing price of P10.60.

In all, DMC will end the year with P15.9 billion in dividend payments to its shareholders, which represent 92 percent of the company’s consolidated core net income in 2021.

DMCI Holdings has a dividend policy that commits to a dividend payout ratio of at least 25 percent of the preceding year's consolidated core net income.

The previous day, the Board of Directors of Semirara Mining and Power Corporation approved the declaration of P14.92 billion, or P3.50 per outstanding common share, in special cash dividends.

This is for shareholders on record as of October 31, 2022. Ex-dividend date will be on October 26 while payment will be made on November 15, 2022.

This is 100 percent more than the P1.75 special cash dividends declared last year, and the highest dividend ever declared by SCC. Last April, the company paid out P1.50 per share in regular cash dividends.

With the additional special cash dividend, the total dividend payout of SCC to its shareholders for 2022 will be P5.00 per share, the highest in its corporate history.

It also translates to a cash dividend yield of 12.34 percent based on its October 14 closing price of P40.50.