BDO Unibank announced that its Board of Directors has approved the declaration of regular cash dividends on common shares, amounting to P1.58 billion or P0.30 per share, for the fourth quarter of 2022.
In a disclosure to the Philippine Stock Exchange, the bank said the cash bonus is payable on December 29, 2022 to all stockholders on record as of December 20, 2022.
BDO reported that it has also received approval from the Securities and Exchange Commission (SEC) for its stock dividends equivalent to 20 percent of current outstanding.
To recall, BDO’s Board of Directors approved on March 26, 2022: the declaration of 20 percent stock dividends; an increase in its authorized capital stock (common shares) from 5.5 billion to 8.5 billion shares, and; the amendment to the Bank’s Articles of Incorporation to reflect the increase.
These were subsequently approved by stockholders at the Bank’s Annual Shareholders’ Meeting held on April 22, 2022, and by the Bangko Sentral ng Pilipinas (BSP) on September 15, 2022.
The record date for the stock dividends has been set for December 15, 2022, with payment date set for December 29, 2022. The P0.30 cash dividend will also apply to the additional shares arising from the 20 percent stock dividend declaration.
“The cash and stock dividend declarations reflect BDO’s commitment to provide consistent, steady returns and value to its shareholders, while at the same time, continue to invest in its business,” the bank said.
It added that, “The hike in authorized capital stock provides flexibility to increase capital if needed during periods of rapid growth or should attractive opportunities arise.”
This will allow BDO to continue to expand its business, strengthen its franchise, and deliver quality earnings for long-term sustainable growth.