SM Prime declares cash dividends of P5.34B

SM PRIME Holdings Inc. has approved the declaration of cash dividends of P0.185 per share, with total value of P5.34 billion in favor of stockholders of record as of June 30, 2020, payable on or before July 14, 2020.

Despite the overwhelming impact of Covid-19, SM Prime remains optimistic about an eventual recovery in consumer spending, owing to the resilience of the Filipino people. Meanwhile, the company’s financial position will allow it to carry on with its planned expansions in the second half of 2020 moving forward.

The company’s P80 billion planned capital expenditures for 2020 remains intact for the year as it focuses on nearly completed projects seen to bring about sustainable returns.

At the same time, SM Prime will continue to explore opportunistic acquisitions and/or investments that are well within its core competencies. (PR)