Filinvest Development Corporation Declares a 58% Increase in Dividend Per Share, Highlighting Solid Growth

At Filinvest Development Corporation's (FDC) annual stockholders' meeting, the conglomerate expressed confidence in the growth trajectory of its core businesses, reporting a robust 58% increase in both Earnings Per Share (EPS) and Dividends Per Share (DPS), in line with its net income increase in 2023. This demonstrates FDC's commitment to providing improved value to shareholders by efficiently turning profitability into higher earnings per share while driving quicker growth over the next five years.

In 2023, FDC reported a net income attributable to equity holders of the parent business of P8.9 billion, 58 percent higher than the previous year's P5.7 billion, while consolidated net income reached P12.1 billion, up 46 percent year on year.

FDC announced 2023 EPS of 1.03, while dividends due to shareholders total 0.10346 per share, representing a 1.93% percent yield based on FDC's end-December 2023 share price.
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After achieving great financial results in 2023, FDC is now aiming to increase earnings by at least 20% per year.

"We believe we are well positioned to achieve our target given our strong performance in 2023. We will push for transformation across the group to attain faster earnings growth with a healthy balance of higher return on invested capital and revenue growth," said FDC President and CEO, Ms. Rhoda A. Huang.

FDC's expansion was fueled by a 31% increase in total revenues and other income from P71.1 billion in 2022 to P92.8 billion in 2023, which followed double-digit improvements across all business segments.

The increase in revenues and other income by business segment were as follows: Banking, 35%; Real Estate, 20%, Hospitality, 77%; Power, 35%; and Sugar, 16%. The level of total revenues and other income of FDC in 2023 has surpassed by 8 percent the amount generated before the pandemic of P84.6 billion in 2019.
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FDC's future plans are based on driving strategy and collaboration across its portfolio companies. It intends to assist its subsidiaries with matters such as capital allocation, company development, and measures to expedite value creation. To drive stronger synergies, the company will use key platforms to drive operational excellence and build a high-performing organization with the goal of empowering Filipinos to pursue their ambitions.

Filinvest Development Corp. (FDC) is one of the leading, stable, and diversified conglomerates in the Philippines. Through its diverse businesses, FDC has established a strong reputation as a dependable partner in economic development. FDC currently has strategic holdings in key industries such as real estate development and leasing, banking and financial services, hotel and resort management, power generation and sugar.

​FDC aims to grow this legacy of success by continuing to strengthen its position in the industries where it competes and embarking on new endeavors that will bolster its role in nation building.