BSP APPROVES CITYSTATE BANK’S
DIVIDENDS
Publicly listed Citystate Savings Bank said that
the Bangko Sentral ng Pilipinas has approved the
payment of cash dividends and the issuance of stock
dividends on common shares to stockholders as of
record date of November 24, 2006, declared by the
lender’s board of directors on June 27, 2006.
The amount of cash dividends is P1, 984, 500, while
the stock dividend’s rate is 10 percent of
the total issued and outstanding capital stock.
Citystate Bank president D. Alfred A. Cabangon said
that the payment date will be on December 21.
Citystate stocks were unchanged Thursday at P20.50
a share.
Citystate Savings Bank is operated by a consortium
that includes the Fortune Insurance Group and Citystate
Management Group Holdings Pte Ltd of Singapore.
The bank has a branch network of 15, with 11 branches
in Metro Manila and four in provincial areas.
.
Source: BUSINESS MIRROR
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