(28 April 2009, Pasay City, Philippines.) SM Prime Holdings, Inc. (“SM Prime”) announced during its annual stockholders meeting its Board approval for the declaration of a 24-centavo cash dividend per share worth Php3.2 billion. This represents 50% of prior year’s Philippine net income which amounted to Php6.3 billion for full year 2008.

SM Prime President Hans Sy said, “We remain committed to reward our shareholders with the 50% dividend payout for their steadfast support of SM Prime’s growth and development over the years.” 

SM Prime also mentioned during the meeting that its capital expenditure program for 2009 is estimated at Php7 billion for the Philippines and Php5 billion for China. To partly finance this capex plan, the company successfully completed a Php 5 billion notes facility and a Usd 70 million floating rate term facility which will be used to fund on-going capital expenditures and general corporate requirements.

In 2009, SM Prime plans to open SM City Naga in Camarines Sur, SM City Rosario in Cavite, SM City Pamplona in Las Piñas, and the Sky Garden at SM City North Edsa.  The company is also set to expand SM City Rosales in Pangasinan and SM Xiamen Annex in China.  By the end of the year, SM Prime will have 36 malls nationwide with an estimated GFA of 4.5 million sqm. Including the SM China malls, the company’s estimated GFA will reach 5.0 million sqm.

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For further information, please contact:

Mr. Jeffrey C. Lim
Executive Vice President 
SM Prime Holdings, Inc.
Email: [email protected]
Tel no: 831-1000 loc. 1401
 

Date: 

Wednesday, April 29, 2009

Source: 

SMPH