The Board of Directors of Rizal Commercial Banking Corporation (RCBC) convened for its regular meeting on March 31, 2025, and made several key decisions. Among the resolutions passed, the Board declared an annual cash dividend for both Common and Convertible Preferred Shares.
The dividend declaration amounts to P0.70 per share, translating to a total of approximately P1.69 billion for holders of Common and Preferred shares as of the close of the 10th trading day following the Board’s approval. The dividend will be payable within 10 trading days from the record date.
The final amount of cash dividends may be subject to adjustments based on any new or additional issuances of shares, or conversions of Preferred Shares to Common Shares before or up to the record date. The Bank’s Preferred Shares are unlisted.
In addition to the dividend declaration, the Board approved the appointment of Ms. Kristine I. Aguirre as Chief Audit Executive and Group Head of the Internal Audit Group, with the rank of Senior Vice President 1. Ms. Aguirre’s appointment will be effective on May 2, 2025, pending approval from the Bangko Sentral ng Pilipinas (BSP) and other relevant regulatory authorities.
Ms. Aguirre brings with her 19 years of extensive experience in the auditing field. She has developed specialized expertise in various areas, including corporate governance and board advisory, internal and external auditing, internal controls over financial reporting, Sarbanes-Oxley compliance services, regulatory compliance, and forensic and enterprise risk management. She is also well-versed in environmental, social, and governance (ESG) matters. Ms. Aguirre is a graduate of the University of Santo Tomas, where she earned a Bachelor of Science in Accountancy.
The RCBC board approved the redemption of the Bank’s US$300 million 6.50% Non-Cumulative Subordinated Additional Tier 1 Capital Securities (the “Capital Securities”), callable beginning August 27, 2025. This redemption will be executed under the issuer’s call option, subject to approval from the Bangko Sentral ng Pilipinas (BSP) and the terms and conditions governing the Capital Securities.
These resolutions reflect RCBC’s continued commitment to enhancing shareholder value and governance practices while ensuring alignment with regulatory requirements and strategic growth objectives.
