GREEN builder ArthaLand Corp. has declared a cash dividend of P1.76145 per Series B preferred share, payable on March 6, to shareholders of record on February 24, 2017.
The total dividend payout amounts to P35.2 million.
In a statement on Thursday, Arthaland said its board of directors approved the declaration of cash dividends to holders of its 30 million Series B preferred shares.
“This is in accordance with its commitment when the preferred shares were offered to the public late last year,” Arthaland said.
Last December, the company listed its 20 million Series B preferred shares worth P2 billion at P100 per piece. A portion of the proceeds of the share issue will be used to fund the company’s projects.
ArthaLand earlier said among its upcoming projects is the 38-storey Cebu Exchange, its first venture into the Visayas and Mindanao region, with ground works for this project set within the first quarter of this year.
ArthaLand is also finalizing the master plan for its first horizontal project in a prime property it acquired in Biñan, Laguna last year. Last September, it announced that it had acquired an 8.1-hectare property in Laguna for P307 million.
In the first nine months of 2016, ArthaLand’s net profit rose more than five times to P767.4 million from P134.8 million in 2015.
ArthaLand is led by the Po family, which runs CPG Holdings Inc. (CPGHI), the parent firm of Century Pacific Food Inc. CPGHI has a 40.3-percent stake in ArthaLand, making it the largest shareholder. AO Capital Holdings 1, Inc. is another major shareholder of ArthaLand with a 26 percent stake.