SM Prime Sets 2021 CAPEX; Declares Cash Dividends

(20 April 2021, Pasay City, Philippines) SM Prime Holdings, Inc. (SM Prime) sets PHP80 billion for its 2021 capital expenditures, focusing on its mall and residential business segments, with due consideration to the challenges brought about by the COVID-19 pandemic.

Likewise, SM Prime’s Board of Directors approved the declaration of cash dividends of PHP0.082 per share, amounting to PHP2.368 billion to all stockholders of record as of May 5, 2021, payable on or before May 19, 2021, during the virtual ceremony of the Company’s Annual Stockholders’ Meeting.

“We all know that the COVID-19 pandemic continues to challenge many companies around the globe, including SM Prime, but we remain committed to enhance the value of your Company for the benefit of all our stakeholders,” SM Prime President Jeffrey C. Lim said.

This 2021, SM Prime is scheduled to open three new malls in the Philippines provided that quarantine measures are eased and with utmost concern for people’s safety. Along with this, the Company aims to launch 15,000 to 20,000 residential units with its primary residential business segment, SM Development Corp. (SMDC), sustaining its growth in the previous year amidst the pandemic.

“SM Prime will continue assisting our national government in its efforts to combat the spread of COVID-19 in the Philippines, primarily in key areas such as Metro Manila, Bulacan, Cavite, Rizal and Laguna, where the number of cases are still high. At the same time, we will continue exploring opportunistic acquisitions and/or investments that are well within our core competencies and expand further in provincial areas where we can operate,” Mr. Lim added.

In the coming weeks, SM Prime will start rolling out its vaccination program among its employees to protect them from COVID-19. The Company has committed to donate a portion of the vaccines it procured to the national government to support its programs.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

 

###

 

For further information, please contact:

Alexander Pomento

Vice President, Investor Relations

SM Prime Holdings, Inc.

E-mail: alex.pomento@smprime.com

Tel. no.: +632 8862 7940