Ty-led Metropolitan Bank & Trust Company led by bankero Fabian Dee is sharing the blessing after booking a 60 percent surge in earnings last year, prompting the lender to declare a P3 cash dividend for this year.
The listed bank’s Board of Directors approved a new dividend policy of increasing the regular cash dividends to P1.60 per share from P1 for the year, payable on a semi-annual basis at P0.80 per share.
In addition, the country’s second largest private lender owned by the Ty family also declared a special cash dividend of P1.40 per share for a total of P3 per share for the year.
“With the bank’s solid capital base and better profitability, the Board of Directors approved a new dividend policy of increasing the regular cash dividends and declaring a special cash dividend,” Metrobank said.
Metrobank’s earnings soared by 60.2 percent to P22.16 billion in 2021 from P13.83 billion in 2020 as the country continues to recover from the recession induced by the COVID-19 pandemic.
The bank’s capital ratios are still among the highest in the industry with a capital adequacy ratio (CAR) of 19.3 percent and common equity tier 1 (CET1) ratio of 18.4 percent after dividends.