BDO declares 20% stock dividend

BDO Unibank Inc. said its board of directors approved the declaration of stock dividends equivalent to 20 percent of the bank’s outstanding capital stock and an increase in its authorized capital stock (common shares) from 5.5 billion to 8.5 billion shares.

The board also approved the amendment to the bank’s articles of incorporation to reflect the increase. These will be presented and endorsed for approval to stockholders at the bank’s annual shareholders’ meeting to be held virtually on April 22.

BDO said the stock dividend declaration is a testament to the bank’s commitment to continue investing in the business and provide consistent, steady returns and value to its shareholders. Shareholders will gain additional shares which they can keep for the long-haul and grow in value, or in case they need liquidity, sell through the stock market at their discretion.