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    Sec Memo 02, s2009

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    Sec Memo 02, s2009

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    sec-memo-02,s2009.pdf

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    29 views1 page

    Sec Memo 02, s2009

    Uploaded by

    princes
    sec-memo-02,s2009.pdf

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Download as pdf
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    Republic of the Philippines SECURITIES AND EXCHANGE COMMISSION SEC Building, EDSA, Greenhills, Mandaluyong City, Metro Manila IRPORATION FINANCE DEPARTMENT SEC Memorandum Circular No. Series of 2009 TO : All Concemed SUBJECT — : Amended Rules Governing Pre-emptive and other Subscription Rights and Declaration of Stock and Cash Dividends of Corporations whose Securities are Registered under the Revised Securities Act! or Listed in the Stock Exchange ‘The Commission En Banc, in its meeting on April 2, 2009 approved the amendment of Section 3 of the subject Rules so that the said Section shall now read as follows: “SECTION 3. All cash dividends declared by corporations shall have a record date which shal! not be less than ten (10) nor more than thirty (30) days from said declaration. In case no record date is specified, then the same shall ipso facto be deemed fixed at fifteen (15) days from such declaration, Provided, however, that companies that are’ obliged to pay dividends may have a single declaration for several cash dividends within a year subject to the condition that their record and payment dates are also explicitly provided. (emphasis supplied)” Effectivity This amendment shall take effect fifteen (15) days after publication in two (2) newspapers of ‘general circulation in the Philippines. Mandaluyong City, Metro Manila, April 17, 2009. fbatiar Chairman T Now Securities Regulation Code (SRC) R.A. 8799

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