D&L Hikes Capital by PHP 14 billion

09 Jun

D&L Industries Inc. (DNL) is raising its authorized capital by PHP 14 billion to pave the way for the implementation of a stock dividend declaration.

It secured approval from shareholders to increase the company’s capitalization from its present PHP 4 billion or 4 billion shares to PHP 18 billion or 18 billion shares at PHP 1.00 apiece.

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Likewise, the firm also declared a 100% stock dividend totaling 3.6 billion shares to be issued out of the company’s increase in authorized capital stock.

Aside from the stock dividends, D&L is also paying a regular cash dividend of PHP 0.15 per share or a total of PHP 536 million to shareholders of record at the close of business on June 30.

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Posted by on June 9, 2015 in Corporate News, DNL, Stock Market


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