THE Philippine National Bank (PNB) said it will pay a total of P1.25 billion in cash dividends.
In a disclosure to the Philippine Stock Exchange on Friday, the Lucio Tan led PNB said its board of directors approved the distribution of a cash dividend of P1 per share to stockholders on record as of August 19.
The dividend will be payable on or before September 15.
The bank said it received the go-signal from the Bangko Sentral ng Pilipinas (BSP) last August 19 to issue the cash dividend.
The cash dividend will come from the unrestricted retained earnings of the bank as of end-March 2016.
Incorporated in 1916, PNB is engaged in commercial banking with a total network of 665 domestic branches, 75 overseas branches and 937 automated teller machines (ATM) as of end-2015.
The bank boasts of having the most extensive international footprint in different locations across Asia, Europe, the Middle East, and North America.