Cebu Landmasters Inc. (PSE: CLI), the leading local VisMin developer announced yesterday, February 26, 2019, that its Board of Directors approved the declaration of cash dividends amounting to PhP0.20 per share.
Shareholders on record as of March 26, 2019 will be entitled to such dividends and will be paid on April 24, 2019.
“Our board is very pleased to declare its regular cash dividend of PhP0.20 per share. It is a testament to CLI’s highest commitment to both its customers and shareholders,” said CLI Chairman and CEO Jose R. Soberano III.
Earlier this year, Cebu Landmasters announced that its sales take-up significantly soared by 86 percent, to PhP8.54 billion net of JV share from PhP4.58 billion last year.
“The increase was brought about by land acquisition and project developments funded thru the IPO Proceeds,” Soberano added.
The company continues to ramp up its office and commercial segments to contribute 10 percent to total revenue by 2023. For this year, CLI is set to complete Baseline Center and Latitude Corporate Center with a combined leasable area of 22,260 square meters.
In 2018, the company declared PhP0.15 per share as cash dividends. To date, Cebu Landmasters has a total of 58 projects in different stages of development.