Quezon City—(PHStocks)—BDO Leasing and Finance Inc. (PSE: BLFI) posted a 10% increase in net income to PhP556 million in 2015. The company’s strong performance was driven by the 16 per cent increase in net lease and loan portfolio to PhP27 billion as BLFI strengthened its marketing efforts and leveraged on its parent company’s extensive market reach. This resulted in gross revenues growing by 15% to PhP2.6 billion.
Going forward, the company will continue to intensify its provincial thrust and tap opportunities in growth areas. BLFI also seeks to take advantage of the sustained growth in vehicle sales through its joint venture with Mitsubishi Motors Philippines (MMPC), Sojitz Corp. (TYO: 2768) and JACCS Co. Ltd. These should enable BDO Leasing to maintain its position as one of the country’s leading providers of leasing and financing services.
BLFI likewise declared cash dividends of PhP0.20 per common share, for a total dividend payout of PhP432 million. This represents a dividend payout ratio of 78%. The record and payment dates have been set for March 11 and March 30, 2016 respectively.