Philippine Savings Bank (PSE:PSB) Announces Cash Dividend

PHILIPPINES – Philippine Savings Bank (PSE:PSB) announced today the declaration of a 7.5 percent cash dividend for the second quarter of 2015.

The cash dividend amounts to Php180.19 million, payable to all common stockholders, Philippine Savings Bank (PSE:PSB) said in a disclosure to the Philippine Stock Exchange.

“As authorized by the board, the President has fixed 26 October 2015 as the record date to determine common stockholders entitled to the regular cash dividends equivalent to Php0.75 per share,” the bank disclosed.

Dividend checks, which will reflect the total amount, shall be available on 11 November 2015.

PSBank will use its surplus reserves from its second quarter 2015 net income.

Philippine Savings Bank (PSB) was incorporated on June 30, 1959 to primarily engage in savings and mortgage banking.

In 1983, Metropolitan Bank and Trust Company acquired a majority share in PSB, and in 2004 further increased its shareholdings to the present level of 76 percent.

In 1991, the Company was authorized to perform trust functions, and in 1995, was granted quasi-banking license. –