In a special meeting held virtually today, the Board of Directors of DMCI Holdings, Inc. (PSE: DMC) approved and declared P6.37 billion in special cash dividends. This is on top of the P6.37 billion in regular and special cash dividends paid out in April this year.

DMC shareholders on record as of October 26, 2021 are entitled to a special cash dividend of P0.48 per share. Payment will be made on November 10, 2021.

With this additional special cash dividend, DMCI Holdings will end the year with P12.75 billion in total dividend payments, which represent 194 percent of the company’s consolidated core net income in 2020.

The 194-percent dividend payout ratio is the highest in the history of DMCI Holdings whose dividend policy commits to at least 25 percent of the preceding year’s consolidated core net income.

The company’s total annual dividend of P0.96 reflects a cash dividend yield of nearly 12 percent based on its October 11, 2021 closing price of P8.10.