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Chinabank declares record cash dividends of P5.9 billion, up 16%

Declares Record-High Cash Dividends for 2024

China Banking Corporation
... ...
China Banking Corporation

Chinabank has announced its declaration of an unprecedented cash dividend payout for the fiscal year 2024, marking a significant milestone in the bank's history.


China Banking Corporation (Chinabank, stock symbol: CHIB) announced that its Board of Directors declared a P1.20 per share regular cash dividend and an additional P1.00 per share special cash dividend, payable on May 16, 2024 to all stockholders on record as of May 3, 2024. The regular cash dividend increased by 20% compared to the P1.00 per share the previous year.
The total cash dividends, amounting to an all-time high of P5.9 billion, 16% higher vs. last year, represent 27% of Chinabank’s 2023 net income of P22.0 billion. It translates to a cash dividend yield of 6.0% based on the bank’s P36.75 closing stock price as of April 17, 2024.
The dividend declaration reflects Chinabank’s commitment to consistently providing good shareholder returns while investing in the continued growth of its business. Last year, the bank paid P5.1 billion in cash dividends—P1.00 per share regular cash dividend and P0.90 per share special cash dividend.
Chinabank is the 4th largest private domestic bank in the country. It was distinguished as the 2023 Employer of the Year by the People Management Association of the Philippines, a two-time Five-Golden Arrow Awardee by the Institute of Corporate Directors, and most recently, as the Cesar Virata Best Securities House (bank category) by the Philippine Dealing System Group.
Moodys’ Investors’ Service, in its April 16, 2024 press release, affirmed Chinabank’s Baa2 deposit and issuer ratings—a notch above investment grade—with stable outlook, in view of the bank’s “strong capitalization and profitability, as well as its modest deposit franchise, offset by its strong level of liquidity.”

PRESS CONTACT

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