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April 21, 2024

RCBC rewards preferred shareholders with cash dividend

Rizal Commercial Banking Corp. (RCBC) led by bankero Eugene Acevedo rewarded holders of the bank’s preferred shares with a cash dividend.

The Board of Directors of the Yuchengco-led bank has approved the cash dividend declaration on convertible preferred shares last May 30.

The declaration covers cash dividends for the RCBC’s convertible preferred shares amounting to P0.07482 or $ 0.00143 per share or a total of P20,008.44 or $383.38.

The cash dividend is payable to holders of convertible preferred shares as of June 21, 2022 (record date) and payable within five trading days from record date.

The actual and final amount of the cash dividends may be lower if there are additional conversions to common stock prior to and up to June 21, 2022.

The dollar equivalent of the cash dividend, however, would depend on the prevailing exchange rate on June 21, 2022.