Cebu developer declares cash dividends


Casa Mira Towers in Labangon, Cebu City (Photo from cebulandmasters.com)

Cebu Landmasters, Inc. announced Tuesday, February 26, 2019, that its Board of Directors approved the declaration of cash dividends amounting to P0.20 per share.


Shareholders on record as of March 26, 2019 will be entitled to such dividends and will be paid on April 24, 2019.


“Our board is very pleased to declare its regular cash dividend of Php 0.20 per share. It is a testament to CLI’s highest commitment to both its customers and shareholders.” said CLI chairman and CEO Jose R. Soberano III.


Earlier this year, Cebu Landmasters announced that its sales take-up soared by 86 percent to P8.54 billion net of JV share from P4.58 billion last year.


“The increase was brought about by land acquisition and project developments funded thru the IPO (initial public offering) proceeds,” Soberano said.


The company continues to ramp up its office and commercial segments to contribute 10 percent to total revenue by 2023.


For this year, CLI is set to complete Baseline Center and Latitude Corporate Center with a combined leasable area of 22,260 square meters.


In 2018, the company declared cash dividends of P0.15 per share. To date, Cebu Landmasters has a total of 58 projects in different stages of development. (PR)

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