171-year old Bank of the Philippine Islands (BPI) has rewarded shareholders with property dividends.
The Board of Directors of the Ayala-led bank approved the declaration of property dividends consisting of 406.18 million common shares held in treasury.
The banking arm of the Ayala Group pegged the entitlement ratio at 0.0896395563 common share of every one common share held by the BPI stockholder.
The dividends, according to BPI, would be paid at a future date subject to regulatory approvals to all eligible stockholders of record as of March 29, 2023.
Last year, BPI net income jumped 66 percent to a record P39.6 billion from P23.88 billion in 2021, driven by strong loan growth, higher net interest margin, and lower provision for potential loan losses.
The bank’s total assets grew by 7.5 percent to P2.6 trillion, while total equity stood at P317.7 billion.
