The board of Semirara Mining and Power Corp. on Monday approved a cash dividend payout totaling P14.88 billion.
SMPC said its board held a special meeting and approved a regular cash dividend of P1.80 per share and a special cash dividend of P1.70 per share, which total P3.50 per share.
“The total cash dividend for April is more than double [133-percent] the P1.50 declared in April last year,” the company said in a disclosure to the stock exchange.
It said the dividend declaration translates to a total payout of P14.88 billion, which would be sourced from the company’s unappropriated retained earnings for the period as of Dec. 31, 2022. SMPC shareholders on record as of April 13 are entitled to the regular and special cash dividends.
Ex-dividend date will be on April 5 due to the declared holidays. Payment will be made on April 25. SMPC said its total dividend translates to a cash dividend yield of 12 percent percent based on its March 24 closing price of P30.25.