After three years of anticipation, AbaCore Capital Holdings Inc. has finally secured clearance to distribute its long-paused dividends. Regulatory approval from the Securities and Exchange Commission (SEC) means the company may now pay out some ₱418.6 million in combined property and cash dividends.
The property dividend comprises 3,767,341 common shares in AbaCore’s wholly owned subsidiary, Philippine Regional Investment Development Corp. (“PRIDE”), while the cash-dividend component amounts to about ₱41.86 million.
The company is now working to finalize tax settlements and obtain the Certificate Authorizing Registration (CAR) from the Bureau of Internal Revenue (BIR). Once that’s done, AbaCore will announce the payment and issuance dates, so shareholders can look forward to receiving their dividends.
In their statement, AbaCore’s chairman–president, Antonio Victoriano Gregorio III, reaffirmed the firm’s commitment to rewarding shareholders and delivering on its investment promises. With PRIDE’s book value having risen significantly since the dividend was first declared, the company says this marks a firm step in strengthening shareholder confidence and sustaining growth momentum.