SM Investments Corp expects continued recovery, increases cash dividend

Warren de Guzman, ABS-CBN News

Posted at Apr 27 2022 09:21 PM

MANILA - SM Investments Corporation said it is optimistic both brick and mortar sales and e-commerce ventures will improve as the pandemic recedes. 

Frederic DyBuncio, President of SM Investments said they will continue to invest in both retail platforms. 

"We see e-commerce growing even more. Our malls have ventured online. Our App allows small tenants to sell digitally, increasing customer convenience,” DyBuncio said.

SM Investments saw its Mall revenue grow 6.1 percent to P30.1 billion in 2021. 

It declared a regular cash dividend of P6.25 per share, P2 higher than the dividends paid out to shareholders in 2021 and 2020. That is a 47 percent increase year-on-year. The dividend however is still below the last pre-pandemic dividend of P9.12 paid out in 2019. 

The company has maintained an investment program of P80 billion over the last several years for its real estate business under SM Prime Holdings, and it is now investing in sustainable electricity. 

Shareholders voted in favor of SM Investments' venture into sustainable energy, approving the purchase of Philippine Geothermal Production Company through a P15.7 billion share swap transaction announced at the start of the month. 

The transaction raises SM Investment’s share of PGPC to 100 percent. PGCP runs the Tiwi and Mak-Ban steam fields which has a capacity of about 300 megawatts of electricity. Both have been running since 1979.

SM Investments Corporation is the holding company of the late tycoon Henry Sy Sr. Its businesses include BDO Unibank and SM Prime Holdings. 

It is most popularly known for its SM chain of supermalls, which now stretches into Mainland China.

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