DHI was originally set to be sold by BDO Leasing and Finance, Inc., but the agreement was eventually terminated in January 2021. The company then rebranded as Dominion Holdings, Inc., and converted into a holding company by mid-2022.
In a comprehensive disclosure to the Philippine Stock Exchange last week, DHI said its shares are 88.54 percent held by BDO Unibank.
Holding company
On its plans, DHI said it will “continue investing its financial assets in money market placements, debt securities, and other short-term but high-yielding instruments.”
“Other investment opportunities aligned with the objectives of DHI will be carefully analyzed and considered. DHI does not expect any product research and development, purchase or sale of plant and equipment, nor any significant change in the number of employees for the term of the plan,” it added.
Earnings grew in H1 2024
DHI earlier disclosed that net income rose 7.3 percent to ₱134.5 million in the first half of 2024, thanks to high interest rates and reversing earlier losses on bond investments.
However, the company’s investment portfolio and total assets dropped significantly due to a large cash dividend payout of ₱1.50 per common share, amounting to ₱3.2 billion.
