September 25, 2013

SECB Issues Cash Dividend, Exercise of Call Option on Bonds and Issuance of non-cumulative, Non Voting Preferred Stock

Security Bank’s board of directors have approved a P0.50 cash dividend. Record and Payment Dates have yet to be announced.    Also, in an agenda for the November 26 board director’s meeting of Security Bank, they are set to approve the following:

Issuance of One Billion Non voting, Non cumulative, Non participating and non Convertible Preferred stock at par value of ten centavos.

Increase of Authorized Capital Stock of P100M specifically for the preferred shares and amendment of Seventh article of  SBC Articles of Incorporation, subject further to regulatory approvals.

Exercise of Call Option on P3Bil worth of Lower Tier2 Subordinated Debt Issued in 2008 and due in 2018. - WealthSec