SM Prime Holdings, Inc. the country largest shopping mall owner, developer and operator, today declared cash dividends equivalent to 50% of 2004 net income, totalling P2.3 billion. This translates to a dividend yield of 3.19% at April 25, 2005 closing price of P 7.30.
Announced during the company Annual Stockholders Meeting yesterday at the Makati Shangri-La Hotel, the cash dividend declaration was well-received and appreciated by the stockholders present.
Hans T. Sy, President of SM Prime Holdings, Inc. said, this cash dividend is declared in fulfillment of our improved dividend policy. With our expansion plans in the pipeline, we look forward to consistent growth in revenues and profits, and are prepared to extend generous dividends to our investors who have believed in the company all these years.?
SM Prime Holdings, Inc. is set to open four new Supermalls in 2005: SM Supercenter Molino, SM City San Lazaro, SM Supercenter Valenzuela, and the much-awaited SM Mall of Asia.