The new policy, passed on Sept. 19, raises the maximum allowable dividend declaration from 30 percent to 50 percent of net income in the past year.
The builder has been positioning itself for growth in transport, infrastructure, and other public-private partnership projects.
This also comes as First Metro Securities projects Megawide’s net income will triple by 2027 from P551 million last year.
The brokerage cited growth from mass housing, the Parañaque Integrated Terminal Exchange, and PH1 World real estate as key drivers.
It restarted coverage of Megawide with a “Buy” call and a target price of P4.50 per share.
Megawide shares have soared in the past week, gaining over 60 percent to about P3.36 apiece.
—Edited by Miguel R. Camus
