SM signals optimistic about business outlook

What: SM Investments Corporation is optimistic about the outlook for business with the revival in economic activity.

Why is it important: Reflecting this optimism, the company declared an increase in dividend payout to over PHP7.5 billion or PHP6.25 per share in favor of all stockholders of record. The dividend declaration represents a 47% increase from the previous year’s PHP4.25 per share.

Despite the challenges of the pandemic, SM opened 294 new retail stores in 2021. In particular, Alfamart surpassed 1,200 stores last year.

SM Investments recently listed its PHP15 billion fixed-rate bonds at the Philippine Dealing and Exchange Corp. (PDEx) with investors snapping up the issue, a strong testament to investor confidence in SM’s credit standing. The retail bond offering, which was 3.7 times over-subscribed to as much as PHP55 billion, was SM Investments’ biggest issue since 2016.