PCI Leasing & Finance Inc. says it will increase its authorised capital stock to P3.42 billion from P1.82 billion.
The financing arm of Equitable PCI Bank will issue P1.18 million to all stockholders upon the approval of the Securities and Exchange Commission (SEC).
Also, PCI Leasing will release P196.62 million in cash dividends to shareholders after its board of directors approved the 20-centavo per share cash dividend that will be paid to all stockholders as of 1 February, and payable on 28 February. It will call a special stockholders' meeting to obtain approval for the increase in authorised capital stock and declaration of stock dividends on 1 February.
PCI Leasing's main business is providing financing and leasing products to corporate clients.
Among its financing products are receivables discounting and factoring, commercial and consumer loans, installment paper purchases.
Source: Asia Intelligence Wire
