FIRST PHILIPPINE HOLDINGS IS A CORPORATION THAT IS CONSTANTLY IN ACTION. WE’RE ALWAYS TRYING TO FIND WAYS TO DELIVER FOR OUR STAKEHOLDERS AND THE FILIPINO PEOPLE.
The Board of Directors of First Philippine Holdings Corporation (First Holdings) today approved the dividend payment for its Series “B” Perpetual Preferred Shares to stockholders of record as of February 2, 2009, with payment on the same date. First Holdings has earmarked P187.5 million as total dividends for this period, the second payment to be made on the shares thus far. Last July 31, 2008, the company made its first dividend payment amounting to P95.9 million.
First Holdings issued 43 million Series “B” Perpetual Preferred shares with a par value of P100 per share, or a total of P4.3 billion, with the shares being listed at the Philippine Stock Exchange on April 30, 2008. The dividend rate is fixed at 8.7231% for five years from listing date, with dividends payable in arrears semi-annually. The company has the option to redeem the shares five (5) years from issue date, or on any dividend payment date thereafter.
The proceeds of the shares are being used to (1) repay / refinance outstanding debts, (2) fund strategic business acquisitions, (3) finance capital and operation requirements, and (4) fund other general corporate purposes.
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