BDO Leasing and Finance Inc. said on Friday it paid cash dividends of P0.20 per share, or a total amount of P432.5 million, to its stockholders last March 29 after sustaining earnings momentum in 2016.
In a disclosure to the Philippine Stock Exchange (PSE), the company said its net income last year saw a double-digit increase on the back of its expanded net lease and loan portfolio.
At the company’s annual stockholders’ meeting on Friday, Vice Chairman and President Roberto Lapid said BDO Leasing delivered a net income of P570 million in 2016 from the P556 million recorded in 2015.
Gross revenues increased by 10 percent to 2.9 billion as the company expanded its net lease and loan portfolio by 14 percent to P31 billion.
“The company will continue to leverage on its parent company’s extensive market reach, strengthen its provincial presence to penetrate untapped markets and support the growth sectors in the economy,” BDO Leasing said.
BDO Leasing is the leasing and financing entity of BDO Unibank, Inc. It provides its customers direct leases, real estate leases, sale and leaseback arrangements as well as receivables factoring.
It also provides operating leases through its wholly owned subsidiary, BDO Rental Inc. and is among the industry’s dominant players in terms of total assets, capitalization and profitability.