Dividend History
PSC considers the benefit of its shareholders as one of its priority management policies. It aims to sustain revenue streams and progressive growth to further enhance shareholder value. PSC shall continue to return capital to shareholders through a sustainable dividend policy. Effective 2015, the Corporation intends to pay at least 20% of annual net profits by way of cash dividends. This considers future capital requirements and potential growth opportunities. The Board regularly reviews the dividend policy, including the frequency of distribution, taking into account all of the above.
Dividends to be paid in cash by the PSC are subject to approval by a majority of the Board of Directors and no further approval from the PSC’s shareholders is required. Dividends to be paid in the form of stock requires both the approval of a majority of the Board of Directors and the approval of shareholders representing not less than two-thirds of PSC’s outstanding capital stock. All dividends to be declared are subject to the approval of the SEC. There are no known restrictions to the PSC’s ability to pay dividends
on shares.
As per SEC Rules, cash dividends declared by a stock corporation must have a record date not less than 10 or more than 30 days from the date the cash dividends are declared. With respect to stock dividends, the record date shall be not less than 10 or more than 30 days from the date of shareholders’ approval, provided, however, that the set record date is not to be less than 10 trading days from receipt by the PSE of the notice of declaration of a stock dividend. In the event that a stock dividend is declared in connection with an increase in authorized capital stock, the corresponding record date is to be fixed by the SEC.
For 2024, PSC issued both cash and stock dividends. The cash dividend at P9.60 per share and 100% stock dividend. As a result, the total outstanding capital stock of the Corporation is 1,512,836,566. Total cash dividends paid to shareholders in June amounted to P7.26 billion and intended to compensate for the past three years without dividends due to COVID-19 pandemic. There was no sale of any unregistered securities. Likewise, there is no restriction that limits the ability of the Corporation to pay dividends on common equity. Below is the summary of the cash and stock dividend declaration of the Corporation.
| YEAR | CASH | AMOUNT | STOCK | NO. OF SHARES |
| 2024 | 9.60 | 7,261,615,517.00 | 100% | 756,418,283 |
| 2023* | – | – | – | – |
| 2022* | – | – | – | – |
| 2021* | – | – | – | – |
| 2020* | 0.30 | 226,925,485.00 | – | – |
| 2019 | 0.50 | 378,209,142.00 | – | – |
| 2018 | 0.43 | 325,259,862.00 | – | – |
| 2017 | 0.65 | 297,982,960.00 | 65% | 297,982,960 |
| 2016 | 0.55 | 252,139,428.00 | – | – |
| 2015 | 0.40 | 183,374,129.00 | – | – |
| 2014 | 0.30 | 137,530,597.00 | – | – |
| 2013 | 0.10 | 39,863,941.00 | 15% | 59,795,912 |
| 2012 | 0.10 | 34,664,297.00 | 15% | 51,996,445 |
| 2011 | 0.10 | 30,142,867.00 | 15% | 45,214,300 |
| 2010 | 0.05 | 14,353,746.00 | 5% | 14,353,746 |
| 2009 | – | – | 10% | 26,097,720 |
| 2008 | – | – | 10% | 23,725,200 |
* Covid -19 Pandemic started in Y2020 and the State of Public Health Emergency was terminated in Y2023
