ABA maintains dividend policy with strong profit

ABACORE Capital Holdings Inc. (PSE:ABA) is set to continue paying dividends of not less than 10 percent per year to investors, with the Board of Directors’s decision affirming the company’ strong financial performance.

The dividends for the succeeding periods will come from ABA’S unrestricted earnings as confirmed by its external auditor. These dividends may also come from subscription receivables that will be paid to ABA.

This year, ABA has paid dividends to its shareholders consisting of a 1-centavo cash dividend and 0.0009 share in Philippine Regional Investment Development Corp. (Pride)—a subsidiary of ABA that provides financial services such as advisory, asset management and underwriting. The dividend was paid to shareholders of record as of June 28.

“The Board’s decision is a testament to ABA’S commitment to provide shareholders’ the returns on investment that they deserve,” ABA President, Chairman, and CEO Raul B. De Mesa said. “We believe this decision, together with the growth initiatives we are pursuing, will reinforce our shareholders’ confidence in us.”

So far this year, ABA has announced a number of growth initiatives throughout the key sectors it operates in. Recently, Pride entered into an agreement with Highsource Prime Building Inc. to undertake various projects at the Monte Maria Shrine in Batangas such as a 4-star hotel, a land and water amusement park, and residential and commercial establishments.

In mining, ABA is one step closer to executing its agreement with oriental Vision Mining Philippines Inc. (ORVI) as it received regulatory approval from the National Commission on Indigenous People. Under the agreement, ABA will receive royalty fees should ORVI find coal and other minerals in its assets in Surigao del Sur.

other growth initiatives ABA is continuing to execute include leveraging its 330-hectare land bank as a gateway to Batangas for local and foreign investors and developing ABA Energy Hub in Batangas.

“our growth initiatives are anchored with our shareholders’ interests in mind to affirm the sentiment ABA is a company with great potential,” De Mesa said. “Keeping this in mind, we are motivated to pursue ventures for the benefit of ABA and its shareholders.”