Saavedra-led engineering and housing firm Megawide Construction Corp. is aiming to declare a special cash dividend after it generated ₱4.5 billion from the sale of a nine-percent stake in Citicore Renewable Energy Corp. (CREC).

“The second half of this year will be exciting and shape our direction moving forward. We are confident that we will achieve our operational and financial targets, which will provide us means for another set of dividends before the end of the year,” said Megawide Chairman and Chief Executive Officer (CEO) Edgar Saavedra during the firm’s annual stockholders’ meeting (ASM).

Megawide declared dividends of ₱0.145 per share last June 23, which will be payable on Aug. 7, 2026, to shareholders on record as of July 23. Based on its last close, this translates to a yield of around 3.6 percent, almost comparable to the Philippine Stock Exchange (PSE) Dividend Yield Index’s average yield of 3.8 percent.

The company also aims to pay out regular dividends as targets and objectives are achieved.

“This will be a prelude to a more consistent and regular dividend payout policy starting next year, as we continue to deliver results, and transform Megawide into a dividend-paying stock,” Saavedra said.

The initiative will also upgrade the company’s existing 3-D strategy to a more holistic and inclusive 4-D blueprint, comprising “Deliver, De-lever, Decarbonize, and Dividend,” aimed at welcoming a broader base of shareholders and stakeholders.

Megawide was able to significantly reduce its short-term obligations as of end-June 2026, paying around ₱7 billion since the start of this year, which is expected to generate interest cost savings of at least ₱400 million annually.

Aside from paying off debt to save on interest payments, Megawide also intends to use a portion of the ₱4.5 billion generated from the sale of CREC shares to state-run pension fund Government Service Insurance System (GSIS) to fund its precast expansion plan.

Megawide is projecting a 52-percent jump in net income to ₱1.82 billion next year from the target of ₱1.2 billion this year on the back of substantial savings from the reduction of debt as well as the improving performance of its construction and real estate businesses.

During the firm’s ASM, Megawide Chief Finance Officer (CFO) Jez G. de la Cruz said, “For 2026, we are generally on track in terms of our plans and programs. In terms of debt reduction alone, from ₱17 billion in working capital lines or short-term loans at the beginning of the year, we’re now down to about ₱10 billion as of June of this year.”

Meanwhile, Saavedra said they intend to expand their Pambansang Pabahay Para Sa Pilipino (4PH) housing footprint to other areas in Mega Manila after having started in Cavite province.

Aside from growing their presence in Cavite, Saavedra said they are also looking north of Metro Manila, such as Bulacan province, particularly in Meycauayan City, as well as toward the east, in the area of Taytay town, Rizal province.

“This is primarily to focus the Metro Manila market, wherein the development will be not too far from the main city. We’re targeting, like, less than 30 minutes travel time as much as possible,” Saavedra added.

Also, real estate subsidiary PH1 World Developers is looking to develop more horizontal housing projects similar to the one it developed in Trece Martires City, Cavite, and will be launching new projects in Cavite as well as Bulacan.

Megawide said last month that it is targeting a 79-percent jump in net income to ₱1.2 billion this year from ₱669 million in 2025, backed by a strong pipeline of projects and lower debt.

“We are on track to achieve our back-ended target of ₱1.2-billion net income for the year. With a rich pipeline of projects, anchored on the government’s expanded 4PH program, complemented by a robust internal order book and big-ticket external projects, we are confident of sustaining a healthy performance in the medium to long term,” said Saavedra.