Security Bank Corp. (SBC) announced on late Thursday a regular cash dividend of P0.50 per share and special cash dividend of P0.50, for a total cash dividend of P1 per share, for the second semester of the year.
In a statement through the Philippine Stock Exchange, SBC said that the declared P1 cash dividend for the second semester is still subject to the approval of the Bangko Sentral ng Pilipinas (BSP).
“The record date and payment date will be determined after receipt of BSP approval on the cash dividend declaration. This will bring the total cash dividend for the year to P2 per share,” SBC said, referring to both first and second semester cash dividend at P1 each.
The SBC board said that it has also approved the “call option on redemption on the Lower Tier 2 subordinate notes” which amounts P3 billion face value and were issued in December 2008. The subordinate notes, together with the 8.6-percent coupon rate, will mature by December 2018.
SBC’s total capital adequacy ratio (CAR) stood at 18 percent, while Tier 1 CAR was at 16.2 percent.