June 13, 2024

Bicol Express News

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BDO declares Cash & Stock Dividends

The Board of Directors of BDO Unibank, Inc. (BDO) approved the declaration of regular cash dividends on common shares in the amount of P0.30 per share for the 4th quarter of 2022, payable on December 29, 2022 to all stockholders on record as of December 20, 2022 during its meeting on December 3, 2022.

The Bank likewise received approval from the Securities & Exchange Commission (SEC) on Nov. 29, 2022 for its stock dividends equivalent to 20% of current outstanding.

To recall, BDO’s Board of Directors approved on March 26, 2022: the declaration of 20% stock dividends; an increase in its authorized capital stock (common shares) from 5.5 billion to 8.5 billion shares, and; the amendment to the Bank’s Articles of Incorporation to reflect the increase.

These were subsequently approved by stockholders at the Bank’s Annual Shareholders’ Meeting held on April 22, 2022, and by the Bangko Sentral ng Pilipinas (BSP) on September 15, 2022. The record date for the stock dividends has been set for December 15, 2022, with payment date set for December 29, 2022.

The P0.30 cash dividend will also apply to the additional shares arising from the 20% stock dividend declaration.

The cash and stock dividend declarations reflect BDO’s commitment to provide consistent, steady returns and value to its shareholders, while at the same time, continue to invest in its business.

The hike in authorized capital stock provides flexibility to increase capital if needed during periods of rapid growth or should attractive opportunities arise.

This will allow BDO to continue to expand its business, strengthen its franchise, and deliver quality earnings for long-term sustainable growth. Note that BDO’s ability to expand its business is dependent on business conditions and its financial position.