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October 06, 2022

RCBC awards P0.618 cash dividend to shareholders

Rizal Commercial Banking Corp. (RCBC) led by bankero Eugene Acevedo has declared a cash dividend amounting to P0.618 per share to holders of preferred and common shares.

The record date for the dividend declaration amounting to P1.26 billion is on April 11, while the payment date is on April 27.

The Yuchengco-led bank said the actual and final amount of cash dividends could change for new or additional issuance of shares and if there are conversions of preferred shares to common shares prior to and up to record date.

The bank’s preferred shares are unlisted preferred shares.

The source for the dividend payout is RCBC’s unrestricted retained earnings as of calendar year-end immediately preceding the date of declaration.

RCBC booked a 41 percent jump in earnings to hit a record high of P7.08 billion last year from P5.02 billion in 2020, boosted by the strong performance of the bank’s core businesses amid the COVID-19 pandemic.

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