PHILIPPINE Bank of Communications (PBCOM) announced, after its June 25 regular Board meeting, the declaration of a special cash dividend of P1.0 per share to all shareholders on record as of July 9, 2025, with a payout date of July 31, 2025.
This is the first time the Bank is declaring a cash dividend, after a stock dividend was declared in September 1997. This clearly demonstrated the substantial improvement in the Bank’s financial standing over the past 27 years.
PBCOM entered into a Financial Assistance Agreement with PDIC in March 2004. The entry of the ISM Group led by Eric Recto in 2011 resulted in the Bank getting out of the PDIC FAA in March 2014. Thereafter, the entry of the PG Holdings of Lucio Co in September 2014 as the Bank’s majority shareholder further strengthened the Bank’s recovery measures.
With steady income growth resulting from a focus on core businesses, the Bank obtained its Universal Bank license in December 2022.
PBCOM, which celebrated its 85th year in 2024, registered its highest net income of P2.2Billion, and was also awarded one of the 3 Forbes Asia’s Best Under a Billion in the Philippines that year.
Mr. Eric O. Recto, chairman of the board, stated that, “This is a noteworthy milestone in the long destiny of PBCOM with a lot of hard work and discipline. The Bank’s management, working closely with its major shareholders, has brought the Bank to a position of financial stability. This will provide a base for us to grow even bigger in the years to come.”
