Philippine Long Distance to convert all series VI preferreds Nov. 9

By Angela McDaniels

Tacoma, Wash., Aug. 4 - Philippine Long Distance Telephone Co. will mandatorily convert all of its outstanding series VI convertible preferred stock into shares of its common stock on Nov. 9, according to a company notice filed with the Philippine Stock Exchange.

The conversion ratio is one share for each preferred. The shares can be put back to the company within 30 days of the conversion.

Accrued dividends will be paid on Dec. 8.

Dividends

In addition, the company declared a dividend of PHP 0.051944 per day on its series V convertible preferreds from July 16 through Aug. 22, payable on Sept. 10 to holders of record as of Aug. 22.

As previously reported, these preferreds will be mandatorily converted into common stock on Aug. 23.

Holders of the company's series B, series F, series Q, series V and series Z 10% cumulative convertible preferreds will receive a dividend of PHP 1.00 per preferred for the year ending Aug. 31. This is payable on Sept. 30 to holders of record as of Sept. 1.

Philippine Long Distance Telephone is a diversified telecommunications company based in Makati City, the Philippines.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.