China Banking Corp., the country’s 5th largest lender by assets, said Thursday its board approved the declaration of regular and special cash dividends that total P5.1 billion for shareholders on record May 5.
The bank declared a regular cash dividend of P1.00 per share and a special cash dividend of P1.90 a share, which will both be paid on May 18.
China Bank said the cash dividends represent 27 percent of the lender’s P19.1 billion net income last year, and is 28 percent more than the dividend declared in 2022.
The cash dividend yield stood at 5.9 percent based on the closing price of P32.00 on Wednesday.
“We are committed to distribute a fair share of the bank’s profits to our shareholders resulting in an attractive yield to their equity.”
Romeo Uyan Jr., president and chief executive officer of China
China Bank has doubled earnings since 2018, allowing it to consistently pay cash dividends every year. It paid P4 billion in cash dividends in 2022.
