Property firm declares dividends
VISAYAS and Mindanao (VisMin) residential developer Cebu Landmasters, Inc. announced a cash dividend of 25 centavos per share to its shareholders on the back of the company’s robust financial performance.
The cash dividend amounting to 25 centavos per share was approved during the February 19 board meeting held in Citadines
Cebu City. Shareholders on record as of April 3, 2020 will be entitled to the dividends and will be paid on April 30, 2020. This is an improvement from previous years’ 15 centavos and 20 centavos per share in 2017 and 2018, respectively.
“In view of CLI’s excellent performance in 2019 and strong posi
tive outlook this year, we are pleased to once again declare dividends to our shareholders who continue to believe in the growth story of Cebu Landmasters. We look forward to providing more sustainable value to our shareholders for many years to come,” said CEO and President Jose R. Soberano III.
A 2019 real estate market study by Santos Knight Frank (SKF) reveals that CLI is the number 1 developer of residential projects in VisMin. The SKF market study that covered 10 key cities and included both national and local developers in the VisMin areas named CLI as “the leading residential developer in VisMin”.
The study shows that CLI leads the residential market with a 12% market share, delivering close to 18,000 units in eight cities of the 10 covered by the SKF study. These are based on actual and current market supply offering. The listed company bested Sta. Lucia Land and Vista Land which tied at second, each garnering 8% market share. Avida Land and Filinvest Land captured 5% and 4%, respectively. Other developers accounted for 64% of the market share.
Soberano pointed out that VisMin’s “economic dynamism, resilience and social growth” have given rise to exceptional real estate opportunities in strategic urban areas. “Our expertise and relationships in the region have allowed us to maximize those opportunities and have served as drivers of the firm’s consistent growth.”