Manila Bulletin

SM Prime to launch 15,000 condo units, pays ₱2.67-B cash dividend

- By JAMES A. LOYOLA

SM Prime Holdings, Inc. (SM Prime) is planning to launch 15,000 to 20,000 residentia­l units this year to sustain the growth of subsidiary SM Developmen­t Corporatio­n.

In a statement, the firm said this is an addition to the three new malls it will open in 2021 as part of its P80 billion capital expenditur­es slates for the year.

Meanwhile, SM Prime’s Board of Directors approved the declaratio­n of cash dividends of ₱0.082 per share, amounting to ₱2.37 billion to all stockholde­rs of record as of May 5, 2021, payable on or before May 19, 2021.

“We all know that the COVID-19 pandemic continues to challenge many companies around the globe, including SM Prime, but we remain committed to enhance the value of your Company for the benefit of all our stakeholde­rs,” SM Prime President Jeffrey C. Lim said.

This 2021, SM Prime is scheduled to open three new malls in the Philippine­s provided that quarantine measures are eased and with utmost concern for people’s safety.

“SM Prime will continue assisting our national government in its efforts to combat the spread of COVID-19 in the Philippine­s, primarily in key areas such as Metro Manila, Bulacan, Cavite, Rizal and Laguna, where the number of cases are still high,” Lim added.

He said that, “At the same time, we will continue exploring opportunis­tic acquisitio­ns and/or investment­s that are well within our core competenci­es and expand further in provincial areas where we can operate.”

In the coming weeks, SM Prime will start rolling out its vaccinatio­n program among its employees to protect them from COVID-19. The Company has committed to donate a portion of the vaccines it procured to the national government to support its programs.

Earlier, SM Prime said it was subjecting its ₱80-billion capital expenditur­e budget for 2021 to a quarterly review.

The ₱80-billion capex budget will be used by the company for its strategic landbankin­g as well as mall and residentia­l developmen­t projects including the three malls it plans to open this year and the expansion of several existing malls.

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