AbaCore Capital Holdings Inc., a diversified holding company with interests in energy, real estate, and financial services, announced Thursday that it will issue stock and property dividends to its shareholders following regulatory approval from the Securities and Exchange Commission (SEC).
The stock dividend, first disclosed in 2020, aligns with AbaCore’s long-standing policy of distributing 10 percent of its earnings to shareholders. The dividend will be distributed on 12 December to shareholders of record as of 30 October 2020, as per SEC guidelines.
In addition to the stock dividend, AbaCore will also issue property dividends in the form of shares from its subsidiary, Philippine Regional Investment Development Corp. (PRIDE). This part of the dividend payout, which was initially announced in 2022 alongside cash dividends, will see shareholders receiving 0.0009 shares of PRIDE for every one ABA share held. Each PRIDE share has a par value of P100, translating to a dividend worth 9 centavos per ABA share. Shareholders will also receive a 1-centavo cash dividend.
“These dividends reflect our commitment to ensuring that our shareholders enjoy the returns on their investment. We want our shareholders to directly benefit from AbaCore’s financial performance,” said Antonio Victoriano Gregorio III, vice chairman and head of investor relations at AbaCore. He added that the move is aimed at bolstering shareholder confidence and reinforcing their support for the company.
The dividends come as part of AbaCore’s ongoing strategy to strengthen its shareholder base and maintain investor trust in its long-term growth trajectory.
