AYALA Corp. said on Tuesday that shareholders entitled to ACEN Corp. shares would receive their respective property dividends this month.In a disclosure, Ayala said it would be distributing, on September 21, around 4.0 percent of 1.86 billion ACEN shares acquired from AC Energy and Infrastructure Corp. (ACEIC).'Ayala Corp. has distributed, as of September 1, 2023, 92 percent of the common shares of ACEN Corp. that it declared as property dividends,' it said.Once the additional ACEN shares are distributed on September 21, the total percentage of property dividends distributed would be around 96 percent, it said.Three ACEN shares are to be issued to shareholders for every one Ayala Corp. share they own.Ayala Corp. added that it would be distributing the remaining property dividends once the Bureau of Internal Revenue issues the electronic Certificate Authorizing Registration (eCAR).'The eCAR issuance is a prerequisite for the transfer of the properties of the corporation, i.e., the ACEN shares, to each entitled stockholder as of the record date, and it's a process that entails the participation of both the corporation as transferor, and the stockholders as transferees,' Ayala Corp. said.The firm said last year that the issuance of property dividends would offer opportunities for its shareholders to benefit from its business-building initiatives.'As ACEN's public float will increase post-transaction, the property dividend declaration enables ACEN to meet the 20 percent minimum public ownership requirement for companies included in the Philippine Stock Exchange Index,' Ayala added.ACEIC's ownership level in ACEN declined to 57.8 percent from 62.5 percent following the declaration, Ayala noted.Ayala Corp. shares were down P12.50 at P610 on Tuesday while ACEN shares were also down by 13 centavos at P4.71.