June 04, 2018 – D&L Industries declared today a regular cash dividend of P0.205 per share plus a special cash dividend of P0.055 per share to shareholders of record as of June 20. Ex-date is on June 15 and payment will be made on July 9, 2018.
In total, shareholders will receive P0.26 dividends per share, or a dividend yield of 2.4% based on June 1’s closing price of P10.94. This year’s dividend, amounting to P1.86 billion or an increase of 11% from last year’s P1.68 billion, is equivalent to 64% of last year’s recurring income.
In 2017, D&L Industries’ recurring net income reached P2.9 billion, or earnings per share (EPS) of P0.41, up 11% year-on-year, on the back of higher sales volume and margin expansion in the high margin specialty products segment. The Company’s return on equity and return on invested capital were at 19.1% and 19.2%, respectively.
For the first quarter of 2018, net income increased by 12% year-on-year to P744 million, or EPS of P0.10. Annualized return on equity and return on invested capital for the period stood at 18.7% and 20.2%, respectively.
With consistent profit growth, very low net borrowings and good cash flow generation, the Company remains highly committed to its dividend policy of 50% payout ratio based on previous year’s recurring net income, with an option to declare special dividends.
Including this year’s payment, the Company has returned a total of P6.75 billion in cash to shareholders through dividends since the IPO in 2012. The company also paid a 100% stock dividend in September 2015.D&L Industries is a Filipino company engaged in product customization and specialization for the food, chemicals, plastics, and aerosol industries. The company’s principal business activities include manufacturing of customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home care use. Established in 1963, D&L has the largest market share in each of the industries it serves, as well as longstanding customer relationships with the Philippines’ leading consumer and chemical companies. It was listed on the Philippine Stock Exchange in December 2012. For more information, please visit www.dnl.com.ph.