Monday, May 2, 2011

SM Declares Cash Dividends

(27 April 2011. Pasay City, Philippines.) Philippine conglomerate SM Investments Corporation (SM) announced during its annual stockholders’ meeting that the company’s board of directors approved the declaration of a PHP 9.04 cash dividend per share worth PHP 5.5 billion. This represents 30% of SM’s full-year 2010 net income of PHP 18.4 billion. SM stockholders of record as of 27 May 2011 are entitled to the cash dividends, which will be paid on 22 June 2011.

SM president Mr. Harley T. Sy said, "SM’s cash dividend declaration comes with our sincere gratitude to all our shareholders. Their support and confidence in our company enabled us to deliver better-than-expected results in 2010. We look forward to their continued patronage in the years to come."

SM and its subsidiaries garnered in March 2011 multiple honors for corporate governance and investor relations. The honors were given by two prestigious business publications namely Corporate Governance Asia and Alpha Southeast Asia under their respective and separate awards programs. Earlier this year, SM also won for the second straight time the Platinum Corporate Award 2010 given by The Asset magazine in Hong Kong for all-around excellence in management, financial performance, corporate governance, social responsibility, environmental
responsibility, and investor relations.

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