A. Soriano Corporation Announces Update of Payment Date for Declaration of Cash Dividends
April 17, 2020 at 12:45 am EDT
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Further to the disclosure made by A. Soriano Corporation (the "Company") on March 16, 2020, on the declaration of cash dividends, the company informedPSE, SEC and the Investing Public that the April 27, 2020 payment date for the cash dividends remain unchanged. However, with the Enhanced Community Quarantine ("ECQ") imposed by the Government,
the distribution of cash dividends to all stockholders of record on payment date may not be feasible and may result to delays. However, the company assured that the Company will continue to manage the distribution of the cash dividends within five (5) days following the lifting of the ECQ. However, those shares that are lodged with PCD shall be paid on the
scheduled date of April 27, 2020.
A. Soriano Corporation is a Philippines-based holding company with diverse investments. The Companyâs core operating investments include Phelps Dodge Philippines Energy Products Corporation and Seven Seas Resorts and Leisure, Inc. The Company has three segments. Holding company segment pertains to the operations of the Company. Resort operations segment pertains to the Companyâs subsidiary providing hotel and resort accommodation, relaxation and entertainment, among others, while villa development includes the sale of villa lots, construction of structures and setting up of furniture, fixtures and equipment. Cable and Wire Manufacturing segment pertains to the Companyâs subsidiaries engaged in manufacturing, importing, exporting, buying, selling or otherwise dealing in, at wholesale, goods, such as building wires, power cables, aluminum wires and cables, copper rods, automotive wires and other energy-related goods of electrical nature.