Stockholders of BDO Unibank Inc. approved Friday the declaration of stock dividends equivalent to 20 percent of the bank’s outstanding capital stock, as well as an increase in authorized capital stock (common shares) from 5,500,000,000 to 8,500,000,000 shares.
Stockholders also approved an amendment to the bank’s articles of incorporation to reflect the increase. The record and payment dates for the stock dividend are still subject to regulatory approvals.
At the bank’s special board of directors’ meeting held earlier in the day, the board also approved a P1.00 special cash dividend on the bank’s common shares. The record date for the special cash dividend has been set on May 6, 2022, and payment date scheduled on May 31, 2022.
The special cash and stock dividend declaration is a testament to BDO’s commitment to provide consistent, steady returns and value to its shareholders on the back of the bank’s positive performance in 2021 and 1Q 2022.
BDO Unibank president Nestor Tan reported that the bank posted a 51-percent increase in net income to P42.8 billion for the full of 2021. The bank’s income in the first quarter of 2022 rose by 13 percent year-on-year to P11.7 billion.
