Marcventures Holdings declares P273.2-M cash dividends


Listed mining and property firm Marcventures Holdings Inc. has declared P273.2-million cash dividends to be paid to stockholders on October 22.

Marcventures said in a disclosure that its board of directors approved the cash dividends last Friday, in line with the company’s policy “to declare dividends twice a year.”

The cash dividends, equivalent to P0.15 per common share, will be delivered to the current addresses of shareholders on record.

“Cash dividends for shares lodged under the Philippine Central Depository will be delivered in the usual manner,” the company said.

Marcventures saw more than 50 percent decrease in net profits to P145.74 million in the first semester from P304.23 million a year ago.

Incorporated in 1957, Marcventures is a mining firm exporting all of its products to China, which is the principal market of its nickel ore production.

The company diversified into the property business when it changed its name and purpose in 2010.


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