SM HITS RESET BUTTON IN ITS BUSINESS MODEL

SM Investments Corp. has hit the reset button in its business model, exploring digital channels to connect to its communities and tweaking its way of doing its business with the Covid 19 pandemic.

SM unveiled its new business model in a disclosure to the Philippine Stock Exchange yesterday where it announced the payment of P5.1 billion in dividends, half of its 2019 income and which translates to P4.25 per share.

During the lockdown period, SM malls and retailers have initiated click-and- collect, curbside pick-up, smartphone messaging communities for deliveries and concierge style personal shopping via social media in response to increased customer needs.

“This pandemic has made us focus even more on two important things for our customers: convenience and safety. And two things for ourselves: adaptability and transformation. We have been improving both our online and physical experience and operations across the group - and building new ways to serve customers: from banking, to retail, malls, and property,” SM Vice Chair Teresita Sy Coson said.

“Coming from the lockdown, we’ve been able to operate hybrid ways of reaching our customers and we are excited to strengthen these offerings,” Mrs. Coson added. SM will continue to build its online assets to expand its market reach and meet customers’ needs.

According to SM, the cash dividends would be paid out on July 23 to stockholders of record as of July 9, 2020.