• BDO declares P1.1B, or P0.30/share cash div

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    BDO Unibank Inc. has declared a 30-centavo per share cash dividend for shareholders on record as of December, the bank said in a disclosure to the Philippine Stock Exchange on Monday.

    Approved by the board of directors on Saturday, the total cash dividend is equivalent o P1.1 billion and is payable on December 29.

    The dividend will be sourced from the bank’s retained earnings.

    BDO recorded P19.3 billion in net income in the first nine months of the year, up 10 percent from P17.6 billion a year earlier.

    Earlier, the bank said it plans to raise P60 billion of fresh funds from a stock rights offer. The fund-raising initiative will support the BDO’s medium-term growth objectives, and provide a comfortable buffer from the higher capital requirement under the planned surcharge on Domestic Systemically Important Bank (DSIB).

    BDO is the largest bank in the Philippines in terms of assets. It operates more than 1,000 branches and 3,000 ATMs nationwide. It has a branch in Hong Kong as well as 25 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.

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