WebClick Tracer

October 03, 2023

BDO hikes capital, declares 20% stock dividend

BDO Unibank Inc. headed by bankero Nestor Tan can raise as much as P30 billion after increasing its authorized capital to 8.5 billion common shares from 5.5 billion with a par value of P10 per share.

The increase in authorized capital stock provides the country’s largest lender flexibility to increase its capital during periods of rapid organic growth or in the event of inorganic opportunities.

“This will allow BDO to continue to expand its business, strengthen its franchise, and deliver quality earnings to position the bank for long-term sustainable growth,” the bank said in a disclosure to the Philippine Stock Exchange (PSE).

With the increase, the bank owned by the family of the late retail and banking magnate Henry Sy now has a capital stock of 8.5 billion common shares and one billion series A preferred shares with a par value of P10 per share.

Likewise, the Board of Directors of BDO also approved the declaration of stock dividends equivalent to 20 percent of the bank’s outstanding capital stock.

Shareholders will gain additional shares that they can keep for the long-haul and grow in value, or in case they need liquidity, sell through the stock market at their discretion.

The additional shares from the stock dividends will also be eligible for future cash dividends that BDO regularly declares.

“The stock dividend declaration is a testament to BDO’s commitment to continue investing in the business and provide consistent, steady returns and value to its shareholders,” BDO added.

Both the increase in authorized capital stock and the declaration of a 20 percent stock dividend will be presented and endorsed for approval to stockholders at the BDO’s annual shareholders’ meeting to be held virtually on April 22, 2022.


PNB recognized during SSS’s 66th anniversary celebration

The Social Security System (SSS) has bestowed two prestigious awards upon Philippine National Bank (PNB), designating them as the “Best Collection Partner” for the Overseas Bank category and the “Best Disbursement Partner” for the Universal Bank category during the “Balikat ng Bayan” Awards (BBA) 2023 ceremony held at the SSS Main Office in Quezon City on September 8.

Read More ...