050307: Metrobank grants 3% cash dividend worth P1.08B

By Ted P. Torres
The Philippine Star 05/03/2007

Metropolitan Bank and Trust Co., the country’s biggest lender, has declared a three-percent cash dividend worth P1.08 billion to its shareholders. The dividend declaration translates to a P0.60 per share cash out based on the stock’s par value of P20.

Metrobank assistant corporate secretary Antonio Viray said the bank’s board of directors "declared a three-percent cash dividend payable to all stockholders of record as of a date to be fixed after approval by the Bangko Sentral ng Pilipinas."

The bank has outstanding capital stock worth P36.5 billion.

Last August, Metrobank also declared a three-percent cash dividend for a total cash value of P980.2 million.

"This reflects Metrobank’s strong performance as a result of the strategies we have put in place last year," Metrobank president Arthur Ty said in a statement.

Metrobank reported a net income of P5.53 billion and consolidated total assets of P648.79 billion last year.

It listed in the international capital markets the amount of P6.6 billion in new common shares following a global equity offering of 173.6 million new shares with 164.9 million shares sold in the international market and the balance of 8.7 million shares sold through allocation to local buyers.

It also unloaded through the auction market P8 billion worth of non-performing loans (NPLs).

In the first three months of 2007, Metrobank posted P1.62 billion in net income, up 30.11 percent compared to the P1.25 billion recorded in the same period in 2006.

Net interest income in the first three months improved to P3.61 billion.

Metrobank executive vice president and controller Joshua E. Naing earlier said that the bank will continue to focus on low-cost funds generating and growing its loan portfolio.

 

http://www.philstar.com/philstar/NEWS200705030708.htm