The Philippine Stock Exchange has approved the voluntary trading suspension of Jollibee Foods Corporation’s Series A Preferred Shares after the firm decided to redeem these securities earlier.
In a disclosure to the PSE, Jollibee said its Board of Directors decided on Sept. 13, 2024, to redeem all its million outstanding Series A preferred shares.
Jollibee said it requested the PSE to indefinitedly suspend the trading for these shares as it is necessary to accurately determine the holders of the Series A Preferred Shares as of 30 Sept. 30, 2024, the record date.
To accurately determine the holders of the Series A Preferred Shares as of Sept. 30, the ex-date will be Sept. 27, 2024. Redemption of the shares will be on Oct. 14, 2024 as P1,000 per share plus accrued and unpaid cash dividends due as of said date.
The notice of redemption containing the redemption guidelines will be sent to the stockholders of record of the Series A Preferred Shares as of Sept. 30, 2024, the record date.
Beneficial owners of scripless shares should coordinate with the PCD Nominee Corporation through their respective brokers.
The Board of Directors of Jollibee also approved the declaration of a regular cash dividend of P10.60125 per share for the firm’s Series B preferred shares, for a total payout of P95.41 million.
The regular cash dividend will be given to JFC stockholders of record as of Sept. 30, 2024 (ex-dividend date of Sept. 27, 2024). Payment date is on Oct. 15, 2024.