SM Prime Holdings, Inc. Declares P0.346 Cash Dividends Per Common Share, Amounting to P10.0 Billion to All Stockholders

The Board of Directors of SM Prime Holdings, Inc. (SM Prime) approves the declaration of cash dividends of P0.346 per share, or P10.0 billion, to all stockholders of record as of May 8, 2024, during the Annual Stockholders' Meeting of the company, held in Conrad Manila, Pasay City. The said dividends are payable on or before May 22, 2024. The figure declared exceeds the P6.8 billion that the business reported in 2023.

SM Prime intends to persist with its expansion strategy throughout its principal business units, thereby bolstering the company's nationwide footprint in significant regions. In order to fund its different projects, the company plans to invest P100 billion in capital this year.

This year, four new malls by SM Prime are expected to open in the Philippines, offering more than 400,000 square meters (sqm) of gross floor area (GFA). The company aims to launch their residential business with 8,000–10,000 residential units.
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As it continues to create creative and sustainable lifestyle cities, SM Prime is dedicated to its position as an engine for economic growth, improving the lives of millions of people in the process.

​SM Prime Holdings, Inc.​ (SMPH) is one of the largest integrated property developers in Southeast Asia that offers innovative and sustainable lifestyle cities with the development of malls, residences, offices, hotels and convention centers. It is also the largest, in terms of asset, in the Philippines.

SM Prime Holdings, Inc. was incorporated in the Philippines in 1994. They started as a mall developer and operator and grew to be the biggest retail shopping center developer and operator in the Philippines. Currently, it has 85 malls in the Philippines and 8 shopping malls in China, totaling 10.8 million square meters of Gross Floor Area (GFA). In the Philippines, they have a total of 20,615 tenants and 2,183 tenants in China.

SM Prime goes beyond mall development and management through its units and subsidiaries. SM Development Corporation (SMDC) is the residential business component that sells affordable condominium units. SM Prime’s commercial business units, the Commercial Properties Group (CPG) is engaged in the development and leasing of office buildings in Metro Manila. Its Hotels and Convention Centers business unit develops and manages various hotel and convention centers across the country.