BDO declares preferred stock dividends, appoints new HK unit VP
The country?s largest bank BDO announced on Friday, January 27, that its directors approved of the declaration of cash dividends on Preferred Shares Series A, and has appointed a new executive for its Hong Kong unit.
In a disclosure to the stock exchange, the Henry Sy-led bank announced its dividends on Preferred Shares Series A at the rate of 6.5% per annum of the par value. Series A shares refer to the stocks given to a company?s initial financing, which includes the stocks issues to company founders, angel investors and kin.
The total cash dividend to be issued by BDO amounts to P340 million.
On the same disclosure, the bank also announced the appointment of a new Senior Vice President for its Hong Kong branch, effective February 16, Mr. Howard Lincoln Son. Armed with 15 years of banking experience, Mr. Son served as a senior VP and credit sales broker prior to joining BDO, at Tradition Financial Services (TFS) Derivatives HK Ltd.