BDO Declares 20% Stock Dividend and Hikes Authorized Capital

The Board of Directors of BDO Unibank, Inc. (BDO) approved the declaration of stock dividends equal to 20% of the Bank’s outstanding capital stock, as well as an increase in the Bank’s authorized capital stock (common shares) from 5,500,000,000 to 8,500,000,000 shares, as well as an amendment to the Bank’s Articles of Incorporation to reflect the increase, at its meeting last March 26.

These will be given to investors for approval at the Bank’s Annual Shareholders’ Meeting, which will take place virtually on April 22, 2022.

BDO’s commitment to continue investing in the business and providing regular, sustainable returns and value to its shareholders is reflected in the stock dividend declaration.

Shareholders will receive more shares, which they can hold for the long term and watch grow in value, or sell on the stock market if they need liquidity. The additional shares received as a result of the stock dividends will be eligible for future cash dividends paid by the Bank.

Following approval by the Bangko Sentral ng Pilipinas, the record and payment dates of stock dividends will be set and disclosed within the legal timeframes.

Meanwhile, the increase in the Bank’s authorized capital stock gives it the flexibility to raise capital during periods of significant organic growth or when inorganic possibilities arise. This will enable BDO to continue to build its business, improve its franchise, and generate high-quality earnings, putting the bank in a strong position for long-term growth.

The Bank’s ability to expand its business is dependent on business conditions and the Bank’s financial position.

Written by dotdailydose


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