Further to its previous disclosures dated May 20, 2010, May 28, 2013, May 23, 2016, May 21, 2019, and May 23, 2022, Ayala Corporation announces a re-pricing of the dividend rate on its 200 million voting preferred shares. Effective May 20, 2025, the dividend rate has been adjusted from 4.8096% per annum to 5.7967% per annum. This new rate is based on the 3-year PHP BVAL reference rate as of May 20, 2025, and will remain in effect until the next re-pricing date on May 20, 2028.
Clause 3 of the Terms and Conditions of the Offer and Subscription for the Shares states that the dividend rate is subject to re-pricing every third year from the Issue Date. The re-pricing is determined using the 3-year PDST-R2 reference rate on each re-pricing date. If the PDST-R2 is no longer deemed an acceptable benchmark, the dividend rate will be based on a replacement market-based benchmark as defined by the Bankers’ Association of the Philippines.
Ayala Corp. noted that the PDS Treasury Reference Rates R1 (PDST-R1) and R2 (PDST-R2) were decommissioned as of October 26, 2018. Consequently, the Bankers’ Association of the Philippines now utilizes the PHP BVAL Reference Rates as the benchmark for determining the dividend rate on the Shares.
This adjustment is in line with Ayala Corporation’s commitment to transparency and adherence to regulatory requirements, ensuring that shareholders are kept informed of significant updates related to the Company’s financial instruments.
