• Metrobank tightens control of PSBank

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    EMETERIO SD. PEREZ

    EMETERIO SD. PEREZ

    On July 28, the Metropolitan Bank and Trust Co. increased its holdings in the Philippine Savings Bank (PSB), which is a subsidiary, to 198.63 million common shares, or 82.67 percent.

    Metrobank used to own 182.536 million common shares, or 75.98 percent, until its recent acquisition of 16.094 million PSB common shares at P100 each.

    PSB shares began trading on July 28 at P101.90, then fell to P99.95 but regained to the opening level of P101.90 at closing. Altogether, 150 shares were traded with turnover totaling P15,187.50.

    Insiders’ trades
    Trans-Asia Oil and Energy Development Corp. reported the acquisitions of additional shares by two company insiders on July 26.

    Roberto M. Lavina, a member of the board and the treasurer, exercised his stock option and acquired 1.5 million shares at P2.29, thus increasing his holdings to 2.7123 million shares, or 0.05 percent.

    Mariejo P. Bautista, senior vice president for finance and the controller, also exercised his stock option and bought 601,000 shares, also at P2.29 each, to increase his total holdings in the company to 954,225.

    On July 26, Trans-Asia shares hit a high of P2.56, then dropped and closed the session at P2.37.

    Trans-Asia listed two principal stockholders in a public ownership report. PHINMA Inc. and PHINMA Corp. hold 1.223 billion shares, or 25.08 percent, and 1.279 billion shares, or 26.22 percent, respectively.

    Capital profile
    Oriental Petroleum and Minerals Corp. (OPMC) reported in a general information sheet 200 billion common shares with P0.01 par value as its authorized capital stock. Of the authorized, 113.006 billion common shares are subscribed and paid-up.

    In the same filing, OPMC said of its paid-up capital stock, 10,988 Filipino stockholders own 111.98 billion common shares, or 99.092 percent, while 859 foreigners hold the 1.026 billion common shares.

    Oriental Petroleum listed in an ownership filing three top corporate stockholders – Consolidated Robina Corp., 37.052 billion common shares, or 18.53 percent; R. Coyiuto Securities Inc., 21.624 billion common shares, or 10.81 percent, and Prudential Guarantee & Assurance Inc., 13.342 billion common shares, or 6.67 percent. PCD Nominee Corp. holds for beneficial stockholders 81.014 billion OPMC common shares, or 40.51 percent.

    Prudential Guarantee also belongs to the group either owned or controlled by stockbroker and businessman Robert Coyiuto.

    On July 29, OPMC common “A” shares opened trading at P0.011, peaked at P0.012 and closed at P0.011. Its “B” shares traded at P0.012 throughout the session.

    P2.897-B retained earnings
    In the last three years, GMA Network Inc. paid its common stockholders a total dividend of P3.742 billion distributed as follows: P0.25 per common share in March 2015; P0.27 per common share in April 2014; and P0.25 in March 2013.

    This year, GMA Network has proved unusually generous. It paid, on May 18, a dividend of P0.40 per share to common stockholders. The disbursement totaled P1.344 billion.

    After distributing all dividends totaling P5.086 billion, GMA Network said it still had P1.69 billion in retained earnings “available for dividend declaration.”

    In a consolidated financial filing, GMA Network, which owns GMA7, reported retained earnings of P2.897 billion.

    The amount of consolidated retained earnings represents the accumulated profits of the parent company and its various subsidiaries, associates and joint ventures.

    P2.88 per share dividend
    On July 24, Ayala Corp. paid stockholders, as of July 11, P2.88 per common share. The dividend totaled P1.786 billion computed on 620.177 million outstanding common shares as of June 24.

    As of March 31, AC reported P130.248 billion retained earnings in a consolidated financial filing. Of this surplus, P96.388 billion represented “accumulated equity in net earnings of subsidiaries, associates and joint ventures”, and P2.3 billion to cover treasury shares. With these restricted amounts, AC, which is the listed holding company of the Zobel family, said only P31.56 billion remained “available for dividends.”

    In December 2015, AC said it paid P3.569 billion dividend at P5.76 per common share; P1.278 billion for equity preferred shares; and P3.75 million for voting preferred shares.

    esdperez@gmail.com.

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