Semirara Mining and Power Corporation Declares P10.6 Billion in Special Cash Dividends

In a special meeting, the Board of Directors of Semirara Mining and Power Corporation (SMPC) approved the declaration of P2.50 per outstanding common share in special cash dividends.

Shareholders on record as of October 29, 2024 will be eligible to the special cash dividend. The ex-dividend date is set on October 28, 2024, while payment will be made on November 14, 2024.

Last April, the company paid out P14.88 billion or P3.50 per common share in regular and special dividends.

With this additional special cash dividend, the total dividend payout of SMPC to its shareholders for 2024 will reach P25.50 billion. This translates to 91% payout, well above the company’s dividend policy of paying out at least 20% of previous year’s reported net income.

SMPC’s total annual dividend of P6.00 per share translates to a cash dividend yield of almost 18 percent based on its October 15, 2024 closing price of P34.00.

Semirara Mining and Power Corporation (SMPC) is a subsidiary of DMCI Holdings Inc. (DMCI HI), one of the biggest listed conglomerates in the Philippines. SMPC is the largest coal producer in the Philippines, and the only power producer in the country that owns and mines its own fuel source.