10 months Metrobank ups ACS via stock dividend Manilatimes |Biz
EMETERIO SD. PEREZMetropolitan Bank and Trust Co. (MBT) will hold its stockholders’ meeting on April 24, 2019 to ratify, among other items in the agenda, the declaration of a 13-percent stock dividend. Said stock dividend, according to the bank’s filing, requires the issuance of 517,401,955 MBT common shares to all stockholders. Valued at P10,348,039,094, the issuance of 517,401,955 MBT common shares will meet the increase in the bank’s authorized capital to P140 billion, or 7 billion common shares, from P100 billion, or 5 billion common shares. The value translates to P20 (P19.9999999884036) for each of 517,401,955 MBT common shares. At ... more