[ Malaya.com.ph ] September 20, 2010
Vista Land and Lifescapes Inc. has declared a P460 million cash dividend.
The amount is equal to 20 percent of the company’s 2009 income and translates to P0.054 per share dividend among stockholders. It will be paid to stockholders of record as of September 30, and will be paid on October 26.
Vista Land’s net income grew by over a third in the first half of the year, hitting P1.44 billion from the P1.03 billion the previous year.
Revenues grew 19 percent to P5.95 billion from P5.02 billion. The company said sales take-up went up 29 percent to P10.2 billion from P7.9 billion last year.
Ricardo B. Tan Jr., Vista Land’s senior vice president for finance, earlier said that the company is targeting a record P20 billion in sales take-up for 2010.
Vista Land recently announced a spate of expansion and other developments in most of its market segments notably in vertical, low-rise and mid-rise properties. It is all set to roll out new vertical development projects, which would bring the total value of its vertical units to P12.5 billion by next year. It is also easing into commercial property development via its existing master-planned communities, which also signals its entry into the leasing business.
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