PSBank declares cash dividend

MANILA, Philippines - Philippine Savings Bank (PSBank), the thrift bank subsidiary of the Metrobank group, has declared a 75 centavos per share cash dividend for the third quarter of 2012 amounting to P180.19 million.

In a disclosure to the Philippine Stock Exchange, PSBank senior vice president and chief finance officer Perfecto Ramon Dimayuga Jr. said the Bangko Sentral ng Pilipinas (BSP) approved the declaration of the cash dividend to all its common stockholders on record as of Dec. 27, 2012.

Dividend checks, the bank said, would be payable and available on Jan. 14, 2013.

For the past months, PSBank has been maintaining its healthy financial performance.

With this, it recently kept its highest PRS Aaa rating for its P3 Billion unsecured subordinated notes, the highest rating assigned by PhilRatings.

The notes will mature in February 2022, with a call option exercisable in February 2017. PSBank is the country’s second largest thrift bank, with assets of P109.4 billion as at end-September 2012. It has a distribution network of 213 branches and 532 automated teller machines (ATMs).

“Obligations rated PRS Aaa are of the highest quality with minimal credit risk. The obligor’s capacity to meet its financial commitment on the obligation is extremely strong,” PhilRatings said.