Vista Land declares cash dividend on 20% of 2011 net income

Expecting sales to hit P40 billion this year after posting healthy bottom lines last year, developer Vista Land and Lifescapes Inc. said Tuesday it is paying a regular cash dividend this year – covered by 20 percent of its 2011 consolidated net income – on top of the special dividend the company declared earlier this year.     Its net income grew 17 percent to a record P3.53 billion last year.   “...[W] e are paying the regular cash dividend to our shareholders in addition to the special dividend that we paid earlier this year, making the total dividend payout equivalent to 30 percent of prior year’s net income or 12 centavos per share,” Vista Land president and CEO Manuel Paolo Villar said in an emailed statement.   The regular dividend, payable to shareholders on record as of Oct. 2, 20112, is P0.08 per shares. Payment date is on Oct. 26.   The company said net income totaled P2.19 billion in the first half of the year, up 25 percent from P1.74 billion a year earlier. Revenues stood at P8 billion. — Marc Jayson Cayabyab/VS, GMA News