Conglomerate SM Investments Corp. (SMIC) is bullish about the renewable and logistics businesses to support the growth of the domestic economy.
SMIC president and chief executive Frederic DyBuncio said in a press briefing following the company’s annual stockholders meeting the company wants to significantly grow the renewable business under Philippine Geothermal Production Co. (PGPC) to support the Department of Energy’s goals to achieve 50 percent renewable energy capacity in the power mix by 2040.
“Hopefully we’ll be able to continue to develop new greenfield projects and be able to help the DOE achieve its goal of 35 percent by 2030 and 50 percent by 2040,” DyBuncio said.
PGPC is currently producing 300 megawatts of geothermal steam supply and aim to add capacity by another 300 MW.
SMIC is also planning to aggressively grow its logistics business to ensure continued delivery of goods and services to provincial areas.
“Because for the provincial areas to continue to grow at a higher clip than what we’re experiencing here in Metro Manila, you need logistics to be able to deliver the goods and services which the local communities in those provinces will require,” DyBuncio said.
Aside from renewable energy and logistics, SMIC also holds interest in smaller businesses including Goldilocks, Airspeed, Altas Mining, and Belle Corp.
Meanwhile, the board of SMIC announced an increase in shareholder dividends to P13 per share for 2025.
The dividends, composed of P11 per share in regular dividends and P2 per share in special dividends, is up 44 percent from P9 per share in 2024.
The move underscores the company’s sustained focus on creating and returning value to its shareholders.
Shareholders on record as of May 16, 2025, will receive the dividends on May 29, 2025.
“This marks the fourth straight year of dividend increases,” said DyBuncio.
“We remain committed to delivering returns for our shareholders while strengthening the long-term value of the company. We are grateful for their continued trust and confidence, which has been instrumental in driving our growth,” DyBuncio said.
