CLI declares ₱0.25 cash dividend

Visayas and Mindanao (VisMin) residential developer Cebu Landmasters, Inc. (CLI)announced a 25 centavos per share cash dividend on the back of the company’s robust financial performance.

Shareholders on record as of April 3, 2020 will be entitled to the dividends and will be paid on April 30, 2020. This is an improvement from previous years’ 15 centavos and 20 centavos per share in 2017 and 2018, respectively.
“In view of CLI’s excellent performance in 2019 and strong positive outlook this year, we are pleased to once again declare dividends to our shareholders,” said CLI President Jose R. Soberano III.

A 2019 real estate market study by Santos Knight Frank (SKF) showed that CLI is the top developer of residential projects in VisMin.

The SKF market study that covered 10 key cities and included both national and local developers in the VisMin areas named CLI as “the leading residential developer in VisMin.”

The study shows that CLI leads the residential market with a 12 percent market share, delivering close to 18,000 units in eight cities of the 10 covered by the SKF study. These are based on actual and current market supply offering.
Soberano pointed out that VisMin’s “economic dynamism, resilience and social growth” have given rise to exceptional real estate opportunities in strategic urban areas.

In Metro Cebu, CLI has the largest market share of vertical residential developments at 23 percent, according to the SKF study.

The company’s absorption rate registered at 96 percent or significantly above the 80 percent industry average in Metro Cebu indicating high demand for its products.

The firm’s take-up rate at 24 per month and absorption rate at almost 60 percent in Davao City is way above the industry average in the market.

In Cagayan de Oro, CLI is able to absorb high sales take-up at 217 per month against its main competitors whose average is 52. – by Jame A. Loyola

Published in Manila Bulletin