Dominion Holdings, Inc. (formerly BDO Leasing and Finance, Inc.) announced at its Annual Stockholders’ Meeting that its net earnings settled at a lower ₱202 million in 2024, compared to ₱277 million in 2023.
The decline in income is primarily due to lower funds available for investment following the declaration of ₱3.2 billion in cash dividends in May 2024.
The payment of cash dividends in May 2024 resulted in Total Assets and Stockholders Equity of ₱3.3 billion as of Dec. 31, 2024, from ₱6.4 billion in 2023.
On July 18, 2022, the SEC approved the change in corporate name of BDO Leasing and Finance Inc. to “Dominion Holdings, Inc.”, the shift in primary and secondary purposes from a leasing and financing company to that of a holding company, and the corresponding amendments to the Company’s Articles of Incorporation and By-laws.
As an investment holding company, Dominion Holdings has more flexibility in pursuing business opportunities that can enhance shareholder value, the company said.
