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April 24, 2024

PSBank rewards shareholders with P0.75 per share cash dividend

Philippine Savings Bank (PSBank) led by bankero Jose Vicente Alde has rewarded its shareholders with a P0.75 per share cash dividend.

The bankero said the Board of Directors of the thrift banking arm of Ty-led Metropolitan Bank & Trust Co. (Metrobank) approved a resolution last Monday declaring a 7.5 percent regular cash dividend for the first quarter of the year.

The reward is equivalent to P320.14 million or P0.75 per share.

Alde said the dividend is payable to all common stockholders as of the record date of May 11, 2022.

The amount will be paid no later than May 25, 2022.

PSBank is the country’s second largest thrift bank after BPI Family Savings Bank, which is scheduled to complete its merger with Ayala-led Bank of the Philippine Islands (BPI) within the year.

The net income of PSBank jumped 30 percent to P1.55 billion last year from P1.11 billion in 2020 on improving operating efficiencies and lower provision for potential loan losses.