Cityland Declares Stock Dividends

At the special meeting held on July 06, 2020, the Board of Directors of Cityland Development Corp. (PSE: CDC) approved the declaration of five percent (5%) stock dividends to stockholders of record as of September 17, 2020 to be distributed on October 13, 2020.

During the Annual Stockholders’ Meeting held August 18, 2020, the stockholders owning at least 2/3 of the outstanding shares approved and ratified the declaration of five percent (5%) stock dividends to each stockholder of record as of September 17, 2020, which will be taken from unissued capital stock and shall be declared from the unappropriated retained earnings as of December 31, 2019.

No fractional shares will be issued therein.