Philippine Bank of Communications (PBCom) said its board has approved a cash dividend of P1.00 per share—its first dividend declaration since a stock dividend in September 1997—highlighting significant improvements in the bank’s financial position.
Shareholders on record as of July 9 will receive the cash dividend, which totals P480.6 million and will be paid out on July 31.
PBCom’s turnaround began after entering into a Financial Assistance Agreement (FAA) with the Philippine Deposit Insurance Corporation (PDIC) in March 2004.
The entry of the ISM Group, led by former finance undersecretary Eric Recto, in 2011 paved the way for PBCom’s exit from the PDIC FAA in March 2014. Later that year, PG Holdings, led by Lucio Co, became the bank’s majority shareholder, further strengthening its recovery efforts.
Driven by steady income growth focused on core businesses, PBCom secured its Universal Bank license in December 2022.
“This is a noteworthy milestone in PBCom’s long journey—one marked by hard work and discipline. Our management team, working closely with major shareholders, has restored the bank’s financial stability. This achievement lays a strong foundation for even greater growth in the years ahead,” said PBCom chairman Recto.
