Dominion Holdings, Inc. Reports H1-2024 Net Income of P134.5 Million

Dominion Holdings, Inc. (DHI, formerly BDO Leasing and Finance, Inc.) posted a higher net income of P134.5 million in the first half of 2024, compared to P125.3 million in the comparable period of 2023, as it benefited from the high interest rate environment as well as the reversal of provisions for probable losses on bond investments, which matured in the second quarter of 2024.

The investment portfolio declined to P2.0 billion as of June 2024 from P6.1 billion in June 2023, while assets contracted to P3.3 billion from P6.3 billion, respectively, from a cash dividend declaration amounting to P3.2 billion. On April 12, 2024, the Board of Directors approved the declaration of cash dividends of P1.50 per common share. The dividends were declared in favor of stockholders on record as of April 30, 2024 and paid on May 10, 2024.

As a result, Stockholders’ Equity contracted to P3.3 billion from P6.4 billion as of yearend 2023.

Dominion Holdings Inc.’s primary purpose is to hold/own real estate properties, securities/shares of stocks, and other assets of other companies, and engage in investment and business activities involving these assets.

On July 18, 2022, the SEC approved the change in corporate name of BDO Leasing and Finance Inc. to “Dominion Holdings, Inc.”, the shift in primary and secondary purposes from a leasing and financing company to that of a holding company, and the corresponding amendments to the Company’s Articles of Incorporation and By-laws.

As an investment holding company, Dominion Holdings has more flexibility in pursuing business opportunities that can enhance shareholder value.