DDMP [DDMPR 1.04, up 1.0%; 108% avgVol] [link] declared a Q3/24 dividend of P0.023605/share, payable on February 14 to shareholders of record as of January 22. The dividend has an annualized yield of 9.08% based on the previous closing price (previously 9.06%). The total amount of the dividend is P421 million, which is 102% of the P414 million in distributable income that DDMPR reported for the quarter. Relative to DDMPR's IPO price, the dividend increased DDMPR's total stock and dividend return to -36.02%, up from its pre-dividend total return of -37.07%. Cumulatively through the first three quarters of 2024, DDMPR has distributed 107.5% of its distributable income through dividends.
MB bottom-line: This is a pattern with DDMPR. They over-distribute dividends through the first three quarters of the year, then they dramatically under-distribute the final quarter to land the final tally at something that is more sustainable. In FY22, DDMPR’s dividend through the first three quarters was ~P0.027/share, but ~P0.023 in Q4. In FY23, DDMPR’s dividend through the first three quarters was ~P0.025/share, but ~P0.023 in Q4. So far in FY24, DDMPR’s div through the first three quarters has been ~P0.023/share. Which pattern will it maintain? Will it declare a ~P0.023/share Q4 dividend to keep that streak going, or will it declare a substantially lower Q4 dividend to keep the “three up one down” pattern alive?
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