ACEN declares cash dividends
At A Glance
- ACEN Corp., the energy platform of Ayala group, has announced cash dividends for its Series A Preferred Shares (PSE: ACENA) and Series B Preferred Shares (PSE: ACENB) for the fourth quarter of 2023.<br>The regular corporate earnings for PSE: ACENA are set at a rate of 7.1330 percent per annum, equivalent to P17.83 per share. The total number of preferred shares for Series A is 8.3 million.<br>The dividend payments for both series are sourced from ACEN's unrestricted retained earnings, which are accumulated profits and gains outside of normal operations after deducting distributions to stockholders.<br>PSE: ACENB will receive regular cash dividends at a rate of eight percent annually, amounting to P20.000 per share. The total number of Series B preferred shares is 16.6 million.<br>The record date for both series is set for Friday, Nov. 17, and the payment will be made on Dec. 1, as approved at a special board meeting conducted via video conference.<br>ACEN stockholders with enrolled accounts may receive their cash dividends through electronic transfer. Shareholders without enrolled accounts can pick up dividend checks on Dec. 1.
Ayala group’s energy platform, ACEN Corp. has declared the cash dividends of its outstanding Series A Preferred Shares (PSE: ACENA) and Series B Preferred Shares (PSE: ACENB) for the fourth quarter of 2023.
In a disclosure to the Philippine Stock Exchange on Friday, Nov. 3, ACEN’s board of directors said that the regular corporate earnings on the PSE: ACENA stood at the rate of one-fourth of 7.1330 percent per annum.
The percentage is equivalent to P17.83 per share as the preferred shares for Series A stood at 8.3 million.
According to ACEN, the source of the dividend payments for the two series came from unrestricted retained earnings of the company, which is the amount of the gathered profits and gains outside the normal and continuous operations after deducting the distributions to stockholders.
Moreover, PSE: ACENB obtained regular cash dividends at the rate of one-fouth of eight percent annually, which equated to P20 per share.
The Series B preferred shares recently amounted to 16.6 million.
The record date for both series will be on Friday, Nov. 17, while the payment will be done on Dec. 1, as approved at the special board meeting via video conference.
Enrolled ACEN stockholders may receive their cash dividends via electronic transfer, otherwise, there will be dividend checks available for pick-up on Dec. 1 for shareholders without enrolled accounts.
Additionally, unlisted stockholders must visit the Stock Transfer Service, Inc. at Ayala Avenue, Makati to claim their checks.
ACEN currently pushes the expansion within its key markets through a full purchase of the Australia platform as well as constructing solar and wind farms in the Philippines, Australia, and two neighboring Asian countries, Indonesia and India.
The company’s total attributable capacity of owned assets is at ~4,500 megawatts (MW), while the renewable capacity is placed at ~4,430 MW.
Currently, the share of renewables to total capacity of the energy platform is at 98 percent. (Gabriell Christel Galang)