BDO Unibank, the country’s largest lender by assets, said Friday its board approved an increase in regular cash dividend and the declaration of property dividends.
The bank said the regular cash dividends for common shares of BDO will be P1 per share a quarter, starting the second quarter this year or a total P4 a year.
“This will be the new dividend policy of BDO going forward,” the bank said.
Meantime, the treasury shares arising from the eventual merger of BDO and SM Keppel Land Inc., with the bank controlled by the Sy Group as the surviving entity as property dividend to shareholders of the lender.
The merger, which is subject to shareholder and regulatory approvals, will result in the creation of Treasury shares equivalent to approximately one percent of current outstanding shares. BDO has a market capitalization of around P780 billion.
