PhilWeb Announces Dividends

Makati–(PHStocks)–The Board of Directors of PhilWeb Corp. (PSE: WEB), the country’s first and largest listed online technology firm, has declared a cash dividend of 10 centavos (PhP0.10) per share, payable on 16 March 2012, to shareholders of record as of 1 March 2012. The total dividend payment will amount to PhP126,155,597.10, based on the total 1,261,555,971 outstanding shares of stock of the company.

In addition to the cash dividend mentioned above, the Board also declared a 20% stock dividend payable on 30 May 2012, to shareholders of record as of 4 May 2012. This stock dividend declaration shall be subject to the approval of stockholders representing not less than two-thirds (2/3) of the outstanding capital stock at the company’s Annual Stockholders’ Meeting scheduled for 19 April 2012, at 2pm at the Tents, 6th Floor, Alphaland Southgate Mall, 2258 Chino Roces Avenue corner EDSA, Makati, Philippines.