August 26, 2013

ALI completes P5.4-B Avida infusion, declares cash dividends

Ayala Land Inc. (ALI) is completing its P5.4-billion capital infusion to its affordable housing unit Avida Land Corp. Aside from fresh funding from its parent firm, Avida Land will also be supported by a P3-billion bond issuance this year. In the first half, Avida Land posted a 45 percent revenue growth to P5.24 billion on the back of strong bookings of new projects.

ALI said  its board of directors also approved the declaration of a P2.03-billion cash dividend. Specifically, the property firm will distribute a cash dividend of P0.1434 per common share to stockholders as of Sept. 6 (ex-date: Sept 3), payable on Sept. 20. This regular cash dividend for the second semester ending Dec. 31, 2013 reflects a 38 percent increase from last year’s second half regular cash dividend of P0.1038 per share. - WealthSec