Board Approvals at Ayala Land
The board of directors of Ayala Land Inc. (PSE: ALI), at its regular meeting held February 27, 2019, approved the declaration of cash dividends of PhP0.26 per outstanding common share. This first half regular cash dividends reflect a 3% increase from last year’s first half dividend per share of PhP0.252. The cash dividend will be payable on March 29, 2019 to stockholders of common shares as of record date March 13, 2019.
The board has also approved the company’s 2019 stock option program pursuant to its Employee Stock Ownership Plan. The program authorizes the grant to qualified executives, in accordance with the terms of the plan, stock options covering up to a total of 14,430,750 common shares at a subscription price of PhP44.49 per share, which is the average price of our common shares at the Philippine Stock Exchange (PSE) over the last 30-day trading as of February 26, 2019.
Other items that received the green light include the filing with the Securities and Exchange Commission (SEC) of a three-year shelf registration of up to PhP50 billion of debt securities, and the raising of up to PhP45 billion through: (a) retail bonds of up to PhP16 billion under the Shelf Registration and listed on the Philippine Dealing and Exchange Corporation (PDEx); (b) SEC-exempt Qualified Buyer Notes of up to PhP4 billion for enrollment on the PDEx; and (c) bilateral term loans of up to PhP25 billion to partially finance general corporate requirements and to refinance maturing loans.
