Villar-led home developer Vista Land and Lifescapes Inc. has approved the declaration of cash dividends amounting to P672.5 million or P0.08 per share.
In a statement issued yesterday, Vista Land said the regular cash dividends represent 20 percent of the company’s consolidated net income for 2011.
Stockholders on record as of Oct. 2 are entitled to receive the dividends. The payment date will be on Oct. 26.
The regular cash dividends are in addition to the special dividends the company paid earlier this year, bringing total dividend payout equivalent to 30 percent of the prior year’s net income or P0.12 per share.
In the first half of the year, Vista Land posted net earnings of P2.19 billion, up 25 percent from P1.74 billion in the same period in 2011. Revenues rose 22 percent to P8.1 billion while reservation sales grew 47 percent to P20 billion.
The company remains on track to meet a projected 20-percent rise in profit and sales this year to P4.2 billion and P16 billion, respectively. Reservation sales are likewise forecast to hit P40 billion by yearend.
http://www.philstar.com/Article.aspx?articleId=850016&publicationSubCategoryId=66
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