Concepcion marks bourse milestone

Homegrown Concepcion Industrial Corp., or CIC, led the bell ringing ceremony to mark its 10th anniversary as a publicly listed firm.

CIC listed its shares at the Philippine Stock Exchange on 27 November 2013 and raised a total of P2.24 billion from the sale of its primary and secondary shares during its initial public offering.

CIC, a diversified corporation providing home and enterprise products such as air conditioners, refrigerators, small domestic appliances, and building solutions such as elevators and escalators, has expanded its portfolio over the years through strategic partnerships.

In 2021, it launched ConcepStore, an online appliance platform that enabled its consumers to digitally access its products and services.

Profit rebounds

In the first nine months, the company registered a net income of P288.40 million, which is 118.8 percent higher than the P131.78 million it earned for the comparable period last year.

CIC also consistently declared and paid cash dividends since 2014.

In 2022, it had a record dividend yield of 5.9 percent while its dividend yield as of end-October 2023 was at 3.3 percent.

"I am confident that with the legacy of excellent management passed down from the previous generation to the present leadership, the company will continue to deliver goods and services in the coming decades that will benefit its investors and contribute to the growth of the Philippine economy," PSE president and CEO Ramon Monzon said in his welcome address during the event.