DESPITE a nationwide lockdown in 2020, Cebu Landmasters Inc. achieved record reservations sales of P14.25 billion in addition to expanding to new project areas like Bohol. Consequently, the firm declared a regular cash dividend.
The cash dividend equivalent to 25 centavos per share was approved during the board meeting held last March 16. Shareholders on record as of April 16, 2021 will be entitled to the dividends to be paid out in May.
The company’s P14.25 billion sales take-up in 2020 represents a 12.4-percent growth from the previous year’s P12.67 billion.
A recent market study by Santos Knight Frank (SKF) named Cebu Landmasters Inc. (CLI) as the leading residential developer in the Visayas and Mindanao with the largest market share from among real-estate firms providing condominium projects and subdivisions in the region as of 2020. The study disclosed that CLI accounted for 18,683 units or 12 percent of the available 86,126 units in VisMin pulling ahead of developers operating nationwide based on Q3 2020 data.
The company has declared a cumulative amount of 60 centavos per share of cash dividends since it went public in June 2017. In 2020, it paid-out 25 centavos per share of dividends.
Cebu Landmasters also recently announced a 123-percent stock dividend in 2021, which was approved by the stockholders during its special stockholders’ meeting last February 26, 2021. The stock dividend is meant to strengthen the capital base of the listed company that now has more than P50 billion in total assets, and to prepare the firm for any significant equity raising opportunities. The stock dividends will be sourced from the increase in authorized capital stock of CLI upon approval of the Securities and Exchange Commission.