(24 June 2020. Pasay City, Philippines) SM Investments Corporation today declared cash dividends to shareholders worth PHP5.1 billion equivalent to PHP4.25 per share.
The Board of Directors of SM approved the declaration of cash dividends to shareholders on record as of July 9, 2020 and payable on July 23, 2020. This is equivalent to 50 percent of its 2019 parent net income.
As it maintains payouts amid the constraints of the pandemic, SM is hopeful of a recovery in business and on the return of vibrancy in consumer activity.
“This pandemic has made us focus even more on two important things for our customers: convenience and safety. And two things for ourselves: adaptability and transformation. We have been improving both our online and physical experience and operations across the group – and building new ways to serve customers: from banking, to retail, malls, and property,” SM Vice Chair Teresita Sy Coson said.
“Coming from the lockdown, we’ve been able to operate hybrid ways of reaching our customers and we are excited to strengthen these offerings,” Mrs. Coson added.
SM will continue to build its online assets to expand its market reach and meet customers’ needs.
SM President Frederic DyBuncio said the acceptance of ecommerce in light of the pandemic has hastened as more people have explored various digital channels.
“This pandemic has revealed that digital technology offers fundamental opportunities to connect and serve communities. We will continue to combine our online and offline capabilities to meet our customers evolving needs,” Mr. DyBuncio said.
During the lockdown period, SM malls and retailers have initiated click-and-collect, curbside pick-up, smartphone messaging communities for deliveries and concierge style personal shopping via social media in response to increased customer needs.
“We are all actively finding new ways to improve our customer experience and operations, and we aim to transform into a stronger and more adaptive SM after the crisis,” Mrs. Coson said.
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.
For more about SM, visit smicweb.smicit.com
For further inquiries, please contact:
Paul Arcenas
VP, Planning and Corporate Communications
SM Investments Corporation
E-mail: paul.arcenas@sminvestments.com
Tel. No. (632) 8857-0100 local 1039