Dividend Policy and History

Policy

The Company’s dividend policy is to declare at least 30% of its prior year’s net income as dividends, whether in stock or in cash or a combination of both, payable out of its unrestricted retained earnings subject to statutory limitations. Each holder of a common share is entitled to such dividends as may be declared in accordance with the Company’s dividend policy. The Company’s current dividend policy entitles holders of common shares to receive dividends based on the recommendation of the Board of Directors. Such recommendation will consider such factors as operating expenses, implementation of business plans, and working capital among other factors.

Dividends on Common Shares

Record Date Payment Date Dividend Rate
April 5, 2016 April 29, 2016 Cash Dividend of P0.08 per share
March 18, 2015  April 16, 2015  Cash Dividend of P0.05 per share
March 17, 2014  April 11, 2014 Cash Dividend of P0.10 per share
March 15, 2013  June 10, 2013  30% Stock Dividend
April 11, 2013 May 8, 2013 Cash Dividend of P0.10 per share
March 28, 2012 April 26, 2012 50% Stock Dividend
March 23, 2012 April 23, 2012 Cash Dividend of P0.10 per share

 

Cash Dividend on Preferred Shares
Since the issuance of the preferred shares of the Company on September 21, 2010 (the 1st tranche), the Company has declared quarterly dividends fixed at 11.50% per annum, calculated in respect of each share with reference to the Issue Price thereof on each dividend period. This translates to a cash dividend amounting to P2.875 per share per quarter. The cash dividends were paid on September 21, December 21, March 21, and June 21 of each year starting December 21, 2010 until the preferred shares were redeemed on December 20, 2013.

First Tranche
Record Date Payment Date Dividend Rate
N/A December 20, 2013 P2.875 per share
N/A September 21, 2013 P2.875 per share
N/A June 21, 2013 P2.875 per share
N/A March 21, 2013 P2.875 per share
N/A December 21, 2012 P2.875 per share
N/A September 21, 2012 P2.875 per share
N/A June 21, 2012 P2.875 per share
N/A March 21, 2012 P2.875 per share
N/A December 21, 2011 P2.875 per share
N/A September 21, 2011 P2.875 per share
N/A June 21, 2011 P2.875 per share
N/A March 21, 2011 P2.875 per share
N/A December 21, 2010 P2.875 per share


Second Tranche
Record Date Payment Date Dividend Rate
November 26, 2015 December 20, 2015 P2.0625 per share
August 25, 2015 September 21, 2015 P2.0625per share
May 12, 2015 June 22, 2015 P2.0625 per share
February 24, 2015 March 20, 2015 P2.0625 per share
N/A December 22, 2012 P2.0625 per share
N/A September 22, 2012 P2.0625 per share
N/A June 20, 2012 P2.0625 per share
N/A March 20, 2012 P2.0625 per share