ArthaLand declares cash dividend on preferred shares

Green developer ArthaLand Corporation (ALCO) reported that its Board of Directors has approved the declaration of cash dividends to holders of its Preferred Shares Series B with record date of February 24, 2017.

In a disclosure to the Philippine Stock Exchange, ALCO said the dividend amounts to R1.76145 per preferred share or a total of R35.23 million and will be paid out on March 6, 2017.

ALCO said this is in accordance with its commitment when the preferred shares were offered to the public late last year.

ArthaLand is poised to grow its development portfolio five times in the next five years, as earlier announced.

The company launched Cebu Exchange, its first project in the Visayas and Mindanao region, in the fourth quarter of last year. It is set to begin the ground works for this iconic commercial building project within the first quarter of 2017.

The company is currently finalizing the master plan for its first horizontal project in a prime property it acquired in Biñan, Laguna last year.

ArthaLand is a boutique developer of sustainable, world class projects. It rests on a solid backing by CPG Holdings, Inc. (CPGHI), its biggest shareholder.

CPHGI is led by the Po family of the Century Pacific Food, Inc., the country’s largest canned food company which owns market leader brands such as Century Tuna, 555, and Argentina, among others.

ArthaLand’s other major shareholder is international investment firm, AO Capital Group.

ArthaLand’s other projects include top-end LEED Gold certified residential condominium, Arya Residences, as well as LEED Gold pre-certified premium office building, ArthaLand Century Pacific Tower. These projects are both located in Bonifacio Global City, Taguig.