The Lao family’s food ingredients and plastics manufacturing giant D&L Industries, led by president and CEO Alvin Lao, declared a regular cash dividend of P0.161 per share and a special cash dividend of P0.048 per share.
The record date is June 19, with the ex-date on June 18, and payment will be made by July 3.
D&L upheld a 50 percent payout policy and declared special dividends for a fourth consecutive year. It said this year’s payout ratio remains at 65 percent of the prior year’s net income, on par with the payout ratio in 2022 and 2023.
During the first quarter of the year, D&L’s earnings recovered with a 4 percent year-on-year growth to P618 million, driven by a steady ramp-up in its new Batangas plant operations.
“Barring any unforeseen event, D&L’s management is keeping its stance and continues to guide for at least double-digit growth in earnings for this year,” the company said in a stock exchange filing after its stockholders’ meeting on Monday.
“Over the longer-term, D&L has a lot of confidence that the new investments that were made over the past years will pave the way for a higher and more sustainable profit growth,” it added.
