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.
FPH to redeem and declare cash dividend on preferred shares
In a regular board meeting on February 7, 2013, the Board of Directors of First Philippine Holdings Corporation (FPH) approved the company’s option to redeem all of its 43,000,000 Series B Preferred Shares. Under the terms of issuance, FPH has the option to redeem all of the outstanding Series B Preferred Shares starting on the fifth anniversary of the issue date.
Additionally, the Board also approved payment of a cash dividend on the Series B Preferred Shares and prepayment of the remaining Fixed Rate Corporate Notes (consisting of 7 and 10-year notes) in the amount P3.18 billion.
To see the disclosure, click here.