The three listed subsidiaries of the Gotianun family-led Filinvest Development Corporation (FDC) each announced dividend declarations during their respective Annual Stockholders’ Meetings held this week. Aside from FDC, the Filinvest group’s listed subsidiaries are EastWest Banking Corporation (EW), Filinvest Land, Inc. (FLI), and Filinvest REIT Corp. (FILRT).
EastWest Bank, FDC’s banking and financial services subsidiary, FLI likewise announced today a cash dividend for common shares amounting to P0.047 per share representing a 30 percent payout. This consists of regular cash dividends of P0.031 per share and special cash dividends of P0.016 per share for a total of P0.047 per common share.
Total cash dividends of P0.0004 per share were also declared for preferred shareholders. Both dividends for common and preferred shares will be paid on June 2, 2022, for stockholders on record as of May 11, 2022.
Earlier on Wednesday, FILRT approved the dividend declaration to all stockholders amounting to P0.116 per share. It is FILRT’s second quarterly cash dividend for the year and its fourth since its initial public offering (IPO) in August last year. The amount is equivalent to an annualized yield of 6.6 percent or a quarterly yield of 1.65 percent which is in line with the annualized dividend yield forecast for 2022 in its REIT Plan based on its initial public offering (IPO) price of P7.00 per share. The cash dividends will be payable on May 27, 2022, to stockholders on record as of May 6, 2022.
“The dividend declarations are testaments of the Filinvest group’s commitment to our valued shareholders who have been with us in our journey. We are grateful for their continued support, trust and confidence,” said FDC President and CEO Josephine Gotianun-Yap. “This also affirms our steadfast desire to grow and create value despite the obstacles faced during the extended pandemic period. With the improving business environment that we are seeing brought about by better mobility and relaxed quarantine measures, we are hopeful that 2022 will be the start of our country’s recovery as well as our businesses’ long-term growth,” added Ms. Gotianun-Yap.
