(25 April 2023, Pasay City, Philippines) SM Prime Holdings, Inc. (SM Prime)’s Board of Directors approves the declaration of cash dividends of PHP0.237 per share, amounting to PHP6.8 billion to all stockholders of record as of May 10, 2023, payable on or before May 24, 2023, during the Company’s Annual Stockholders’ Meeting held in Conrad Manila, Pasay City. The declared total amount is higher from last year’s PHP2.8 billion given the better financial performance of the Company in 2022.

SM Prime President, Mr. Jeffrey C. Lim, highlighted the Company’s financial performance in the past year during his report to the Company’s shareholders and provided further insights on SM Prime’s achievements. He also shared SM Prime’s commitment on sustainable solutions that aims to further uplift the lives of its stakeholders.

“In the coming years, expect more meaningful experiences and treasured values with SM Prime as we commit to developing more communities that elevate the quality of lives of millions of people. We will continue integrating modern-day learning with inherited values and aspirations as we rise from future challenges,” he said in his report.

SM Prime also reported that the Company expects to incur capital expenditures of around PHP80 billion for 2023 to continue its expansion plans in its key business units, which will provide the Company a stronger presence in major areas across the country.

SM Prime is scheduled to open three new malls and expands certain malls in the Philippines this year, which will provide an additional 200,000 square meters (sqm) of gross floor area (GFA). For its residential business segment, SM Prime aims to launch 15,000 to 20,000 residential units, subject to government approval of licenses to sell.