Consunji-led DMCI Holdings Inc. has declared ₱7.97 billion or ₱0.60 per share in total cash dividends following board approval in a special meeting.
In a disclosure to the Philippine Stock Exchange, the firm said the declared amount includes a regular dividend of ₱0.35 per share and a special dividend of ₱0.25 a share, to be sourced from unappropriated retained earnings as of March 24, 2025.
The dividend payout is equivalent to 42 percent of DMCI’s 2024 core net income of ₱18.8 billion, well above the dividend policy of distributing at least 25 percent of the previous year’s core earnings.
Shareholders on record as of April 10, 2025, will be entitled to receive the cash dividends. The ex-dividend date is April 8, while payment is scheduled for April 24.
At DMCI’s closing price of ₱11.50 on March 24, the total declared dividends translate to a dividend yield of 5.2 percent.
DMCI is allotting about ₱70 billion for capital expenditures this year, including the investments of affiliate Maynilad Water Services Inc., 45 percent more than the ₱48.3 billion it spent in 2024.
According to DMCI Holdings Executive Vice President and Chief Finance Officer Herbert Consunji, Maynilad will spend the bulk of this, about ₱41 billion, on expansion and service improvement projects.
For the firm’s performance this year, he said Semirara Mining and Power Corp. would continue to be the biggest contributor to its coal and power generation businesses.
He added that off-grid power subsidiary DMCI Power Corp. is also expected to post strong growth this year, although its share of the holding company’s revenues and earnings is relatively small compared to the other units.
DMCI reported a 21 percent drop in net income to ₱19 billion in 2024 from ₱24 billion in 2023 due to weaker commodities and electricity prices, lower construction accomplishments, and an anemic real estate market.
The firm said record-high water utility, off-grid power contributions, highest-ever coal shipments, and power generation helped cushion the decline.
Excluding non-recurring items, core net income reached ₱18.8 billion last year, down 21 percent from ₱23.9 billion in 2023.
"While some of our key businesses continue to face headwinds, our diversified portfolio helped mitigate the impact of challenging market conditions," said DMCI Holdings Chairman and President Isidro A. Consunji.
He noted that, “In 2025, we remain focused on strengthening our group ecosystem with the addition of the cement segment, enhancing operational efficiencies and deploying targeted sales approaches to adapt to evolving market dynamics.”
In the fourth quarter of 2024, DMCI’s reported net income declined 14 percent, from ₱4.4 billion to ₱3.8 billion, largely due to weaker contributions from the integrated energy, real estate, and construction businesses.
Stronger performances from the water utility and nickel mining segments partially offset the decline.