D&L Industries Announces PhP0.286 per Share Dividends for 2019

• Regular dividend of PhP0.223, Special dividend of PhP0.063
• Ex-date on June 21, Record date on June 26, Payment Date on July 22
• Total payout ratio of 64% of prior year’s earnings

D&L Industries (PSE: DNL) declared today a regular cash dividend of PhP0.223 per share plus a special cash dividend of PhP0.063 per share to shareholders of record as of June 26. Ex-date is on June 21 and payment will be made on July 22, 2019.

In total, shareholders will receive PhP0.286 dividends per share, or a dividend yield of 2.8% based on June 7’s closing price of PhP10.20. This year’s dividend, amounting to PhP2.04 billion or an increase of 10% from last year’s PhP1.86 billion, is equivalent to 64% of last year’s recurring income.

In 2018, D&L Industries’ recurring net income reached PhP3.2 billion, or earnings per share (EPS) of PhP0.45, up 10% year-on-year, on the back of higher sales volume and gross profit margin expansion. The Company’s return on equity and return on invested capital were at 19% and 22%, respectively.

For the first quarter of 2019, net income increased by 1% year-on-year to PhP748 million, or EPS of PhP0.10. Annualized return on equity and return on invested capital for the period stood at 17% and 21%, respectively.

With positive prospects across its business segments, very low net borrowings and good cash flow generation, the Company remains highly committed to its dividend policy of 50% payout ratio based on previous year’s recurring net income, with an option to declare special dividends.

Including this year’s payment, the Company has returned a total of PhP8.8 billion in cash to shareholders through dividends since the IPO in 2012. The company also paid a 100% stock dividend in September 2015.

D&L Industries is a Filipino company engaged in product customization and specialization for the food, chemicals, plastics, and aerosol industries. The company’s principal business activities include manufacturing of customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home care use. Established in 1963, D&L has the largest market share in each of the industries it serves, as well as longstanding customer relationships with the Philippines’ leading consumer and chemical companies. It was listed on the Philippine Stock Exchange in December 2012. For more information, please visit www.dnl.com.ph.