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May 31, 2024

AUB gifts shareholders with P2 cash dividend

Asia United Bank (AUB) headed by bankero Manuel Gomez is gifting stockholders with a P2 cash dividends payable in two tranches in July and October.

The Board of Directors of the Rebisco-led bank has approved the recommendation made by the management for the declaration of cash dividends amounting to P2 per share.

The first tranche amounting to P1 per share is to be given away to shareholders as of July 15 and payable in July 29.

The second tranche of P1 per share will be distributed to stockholders as of October 14 and payable on October 31.

The earnings of AUB jumped 34 percent to hit P4.1 billion last year, exceeding its P4 billion target, from P3 billion as core businesses were boosted by improving business and consumer confidence.

Gomez said AUB expects to further improve its position as one of the country’s fastest growing publicly listed universal banks even as it braces for several headwinds in 2022.

“The bank is definitely looking at improved profitability in 2022 despite the realization that it will be another challenging year overall for the economy.

2022 will not likely be the year that banks will return to their pre-pandemic growth levels,” the bankero said.

He added that aggressive business growth will still be sidelined in favor of greater liquidity and stability.