SM signals optimism on business outlook as it hikes dividend payout to shareholders


SM Investments

(27 April 2022. Pasay City, Philippines) SM Investments Corporation (SM Investments) is optimistic about the outlook for business with the revival in economic activity.

Reflecting this optimism, the company declared an increase in dividend payout to over PHP7.5 billion or PHP6.25 per share in favor of all stockholders of record as of May 13, 2022. The dividends are payable on May 26, 2022.   

The dividend declaration represents a 47% increase from the previous year’s PHP4.25 per share.

“We are encouraged by the continued recovery of our businesses which were severely affected by the pandemic.  Our expansion plans remain on track and will accelerate as economic conditions improve,” SM Investments President and Chief Executive Officer Frederic C. DyBuncio said.

Despite the challenges of the pandemic, SM opened 294 new retail stores in 2021. In particular, Alfamart surpassed 1,200 stores last year.

SM Prime Holdings for its part opened two new malls in the Philippines in 2021, SM City Daet, its first in Camarines Norte, and SM City Grand Central in Caloocan City. It also opened MOA Square, the expanded wing of SM Mall of Asia which houses the biggest IKEA in the world. It launched eight new SM Development Corporation residential projects in the country composed of high-rise and mid-rise condominiums, as well as house and lot developments. SM Hotels and Conventions Corporation likewise opened Park Inn by Radisson – Bacolod in the last quarter of 2021.

Among banks, BDO Unibank and China Banking Corporation opened a total of 75 branches in 2021.

SM Investments recently listed its PHP15 billion fixed-rate bonds at the Philippine Dealing and Exchange Corp. (PDEx) with investors snapping up the issue, a strong testament to investor confidence in SM’s credit standing. The retail bond offering, which was 3.7 times over-subscribed to as much as PHP55 billion, was SM Investments’ biggest issue since 2016.

The offering forms part of SM Investments’ second tranche of PHP30 billion in debt securities registered with the Securities and Exchange Commission under a shelf registration. As part of the company’s growth funding strategy, the net proceeds of the bond issue will be used to refinance debt that funded capital expenditure.

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About SM Investments Corporation

SM Investments Corporation is a leading Philippine company that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.

SM’s retail operations are the country’s largest and most diversified with its food, non-food, and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the 6th largest bank.

Timothy Daniels
Consultant, Investor Relations & Sustainability
SM Investments Corporation