CEBU

Property developer declares cash dividend

PROPERTY developer Cebu Landmasters Inc. (CLI) announced a cash dividend of 25 centavos per share to its shareholders on the back of the company’s robust financial performance.

The cash dividend amounting to 25 centavos per share was approved during the Feb. 19, 2020 board meeting held in Citadines Cebu City.

Shareholders on record as of April 3 will be entitled to the dividends and will be paid on April 30.

This is an improvement from previous years’ 15 centavos and 20 centavos per share in 2017 and 2018, respectively.

“In view of CLI’s excellent performance in 2019 and strong positive outlook this year, we are pleased to once again declare dividends to our shareholders who continue to believe in the growth story of Cebu Landmasters. We look forward to providing more sustainable value to our shareholders for many years to come,” said chief executive officer and president Jose Soberano III.

A 2019 real estate market study by Santos Knight Frank (SKF) revealed that CLI is the no. 1 developer of residential projects in the Visayas and Mindanao (VisMin). The SKF market study that covered 10 key cities and included both national and local developers in the VisMin areas named CLI as “the leading residential developer in VisMin.”

The study shows that CLI leads the residential market with a 12 percent market share, delivering close to 18,000 units in eight cities of the 10 covered by the SKF study. (PR)


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