Philippines real estate firm Belle Corp has declared a regular cash dividend of Php0.06 per share, representing a total payout of Php582 million (US$10 million), for FY24 with the company pointing to the resilience of the business over the past year.
While the company has yet to release its full financial results for the year ended 31 December 2024, it revealed in a press release that consolidated revenues increased by 5% to Php5.89 billion and consolidated recurring net income by 7% to Php2.44 billion. Consolidated net income held steady at Php2.43 billion.
Belle Corp owns the land upon which Melco Resorts & Entertainment’s City of Dreams Manila is located, while its majority-owned subsidiary Premium Leisure Corp (PLC) is a director partner of Melco in City of Dreams Manila where it holds a revenue share agreement.
Belle Corp President and CEO, Armin Raquel Santos, said, “In 2024, the Belle Group remained profitable due to the resilience of our businesses, strategic focus and healthy balance sheet.
“Relying on our tried and tested business models, we worked with our management teams, employees and business partners to provide the finer things in life to our loyal patrons and customers.”
Belle Corp recently expressed its interest in expanding its casino-resort exposure to Clark, announcing late last year that it has filed an application for a Clark casino license and continues to pursue IR development within the Clark Freeport Zone.
