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Thursday, March 28, 2024

AUB stock dividend

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Asia United Bank, the financial arm of the Rebisco Group of Companies, is set to declare a 50-percent stock dividend to shareholders after getting the approval of the Bangko Sentral ng Pilipinas.

The bank said in a disclosure to the stock exchange Friday it received the approval of the Bangko Sentral on Oct. 15, 2015. Stockholders earlier approved the stock dividend declaration in the annual meeting held in June.

On Aug. 28, 2015, the board of directors delegated to AUB president Abraham Co the authority to set record date and payment date for the stock dividend.

“Pursuant to the said authority, the president approved the record date of 10 trading days after the notice of the BSP approval and payment date of 18 trading days after the record date,” the bank said. The record date and payment date would be on Oct. 29, 2015 and Nov. 26, 2015, respectively.

Net income of AUB declined 3 percent in the first half this year to P852.8 million year-on-year on higher loan provisioning and investments for branch expansions. 

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