DDMP declared a larger Q2 dividend

Philippine Tribune
Philippine Tribune

DDMP [DDMPR 1.31, up 0.8%; 189% avgVol] [link] declared a Q2/23 dividend of P0.0254766, payable on November 29 to shareholders of record as of November 6. The dividend has an annualized yield of 7.78% based on the previous closing price, which is marginally better than DDMPR’s pre-dividend annualized yield of 7.75%. The total amount of the dividend is P454 million, which is 60% of the P760 million in distributable income (DI) that DDMPR reported for the quarter. Relative to DDMPR’s IPO price, the dividend increased DDMPR’s total stock and dividend return to -29.33%, up from its pre-dividend total return of -30.46%.

MB bottom-line: And with that all the REITs have declared Q2 dividends. Sure, it took until the start of Q4 for DDMPR to get there, but we’re here, and for shareholders that’s what matters. Well, that and the larger dividend relative to that Q4/22 dud and the Q1/23 bounce. We’re still not back up to the fatter dividends that DDMPR was throwing off from Q2/21 through Q3/22, but improvement is improvement. What’s interesting to me is that the total amount of the dividend amounted to only about 60% of the DI that DDMPR reported for the quarter. If they had distributed 90% of the Q2 DI, the dividend could have been up to ?0.038/share with an 11.7% annualized yield. Is this DI bump just a blip, or a sign of better days to come?

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