BOO Unibank Inc., the Philippines’ largest bank by assets, revised its dividend policy and raised its quarterly dividend substantially to P0.75 a share, starting the first quarter of this year.
Before the change, BDO has set quarterly dividend of P0.30 a share.
The lender said the cash dividend policy revision is a recognition of the “importance of providing a stable and sustainable dividend stream consistent with (BDO’s) commitment to shareholders, and its financial performance.”
Meantime, BDO said net profit of 2022 rose 33 percent to P57.1 billion from P42.8 billion in 2021, driven by the increased interest income from loans and a larger deposit base.
Net interest income grew 14 percent on year to P149.2 billion while free-based and other income climbed by 17 percent to P71.5 billion.
BDO said its strong balance sheet and business franchise will allow it to sustain growth despite macroeconomic challenges such as persistent inflation and foreign exchange and interest rate volatility.
