The Board of Directors of DMCI Holdings, Inc. (PSE: DMC) approved the declaration of P0.72 per common share in special cash dividends for shareholders on record as of 2 November 2022.

The ex-dividend date will be on 27 October 2022, while payment will be made on 16 November 2022.

Last April, DMC paid its eligible shareholders a total of P0.48 per common share in regular and special cash dividends.

With this October declaration, DMC's total dividend payout for 2022 will be P1.20, 25 percent more than the P0.96 in total dividends declared last year.

The total payout translates to a cash dividend yield of 11.32 percent based on its 17 October 2022 closing price of P10.60.

DMC will end the year with P15.9 billion in dividend payments to its shareholders, representing 92 percent of the company's consolidated core net income in 2021.

DMCI Holdings' dividend policy commits to a dividend payout ratio of at least 25 percent of the preceding year's consolidated core net income.