Bank of the Philippine Islands eyes PHP 100 billion bond, commercial paper, approves dividend

By William Gullotti

Buffalo, N.Y., May 19 – Bank of the Philippine Islands (BPI) announced that its board of directors approved an up to PHP 100 billion bond and commercial paper program on Wednesday, according to a notice on Thursday.

The new program will replace the bank’s fully utilized program established in 2019.

The program’s objective is to diversify the bank’s funding sources and support.

According to the notice, the board also approved a new dividend policy based on a payout ratio of 35% to 50% of previous year’s earnings and a declaration of a cash dividend of PHP 1.06 per share of outstanding common shares and capital stock.

The record date for the dividend is June 1 with payment scheduled on June 22.

The bank is based in Makati City, Philippines.

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