The Philippine Stock Exchange yesterday said it will be issuing a total of P305.5 million as cash dividends for stockholders of record by April 15 with a 100 percent stock dividend.

The PSE’s latest issuance is the biggest in the bourse’s history as a stock corporation following it record profits it enjoyed last year.

The cash dividend, divided at P20 per share, consist of P14 regular dividend and P6 special dividend and will be payable not later than May 15, 2008. PSE’s Board of Directors approved the dividend declaration during its last meeting Wednesday, 26 March 2008.

The cash dividends surpassed the P16 per share or P244.4-million total cash dividends declared by the PSE in 2004. It also marked the sixth straight time since 2003 that the PSE has declared cash dividends. The PSE’s latest dividend declaration will bring to P822.2 million the amount of cash dividends it declared since 2003.

On the other hand, the 100 percent stock dividend declaration, equivalent to 15.27 million shares, will be used as paid subscriptions of PSE stockholders to the increase in the company’s authorized capital stock from P36.8 million to P97.8 million. The PSE Board also approved the increase in authorized capital during its last meeting.

"We in the PSE keep in mind our responsibility not only to the whole market but also to our own stockholders. This is the message we want to convey to our own stockholders in declaring the dividends. We want them to enjoy – and they deserve to enjoy —the benefits from holding on to the PSE’s own stocks," said PSE president Francis Ed Lim.

"We are also well aware of the role we play in setting a good example for other listed companies. We hope other listed companies will do the same for the sake of their stockholders. This is a good way of enticing more investors into our market," he added.

The PSE enjoyed a banner year in 2007 with its consolidated record net income of P433.42 million, 86.6 percent higher than the P232.30-million posted in 2006, driven by the equally record jump in value turnover at P1.34 trillion. The 2006 value turnover only reached P572.63 billion. Proceeds from various offerings and other capital-raising activities likewise were also a record high of P90.13 billion in 2007 from P57.23 billion a year earlier.