The Board of Directors of D.M. Wenceslao & Associates, Inc. (DMW) in a regular meeting held on March 15 declared cash dividends amounting to P0.07 per share or a total of P254.6 million, 23 percent higher than a year ago. The cash dividends will be payable on April 5, 2023 to all stockholders on record as of March 30, 2023.
This is the company’s fifth consecutive annual cash dividend since it publicly listed in June 2018 and its highest thus far. DMW’s continuously growing earnings and robust financial standing enabled it to sustain cash dividend growth while simultaneously being in a hypergrowth stage.
“Since our IPO, we have notched a long list of milestones including, among others, the completion of 8912 Asean Ave, our largest office development yet; our successful diversification to Makati City with 58 Jupiter; the successful turnover of our fully sold Pixel Residences, the signing of major land-lease locators, and the substantial progress in the construction of our flagship commercial development Parqal and our second residential project MidPark Towers,” said Delfin Angelo Wenceslao, chief executive officer.
