In its regular board meeting on December 3, 2009, the Board of Directors of First Philippine Holdings Corporation (First Holdings) approved a P1 per share cash dividend to its common shares to stockholders of record as of December 17, 2009, and payable on or before December 29, 2009.  First Holdings will earmark around P590 million for this cash dividend payment. 

In the same board meeting, a cash dividend declaration of P4.36155 was also approved for First Holdings series “B” preferred shares to stockholders of record as of January 12, 2010, and payable on February 1, 2010. Pursuant to its terms and conditions, the preferred shares have a fixed dividend rate of 8.7231% per annum payable on a semi-annual basis. This will be the fourth dividend payment to be made thus far for the preferred shares since its issuance on April 30, 2008, bringing total dividends paid to P658 million. 

First Holdings President and COO Elpidio L. Ibañez remarked, “Given the improved situation of the company, First Holdings has decided to resume its dividend payments.”