PSBank Ups Dividends

Makati–(PHStocks)–Philippine Savings Bank (PSE: PSB) Board of Directors passed a resolution to amend its annual Regular Cash Dividend Rate to 30% from 6% effective the first quarter of 2012. This translates to an increase in PSBank’s annual dividends to PhP3.00 per share from PhP0.60 per share, previously.

The dividends will be paid quarterly at PhP0.75 per share to all common stockholders of record as of a date to be fixed by the President of the Bank, after receipt of approval from the Bangko Sentral ng Pilipinas (BSP) per Subsection X136.4 of the BSP Manual of Regulations for Banks.

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