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What are the types of shares issued by BDO and what are their basic features?


BDO’s capital stock is composed of common and preferred shares, both having a par value of P10. BDO common shares have voting rights and participate in dividends. The Bank’s Series A preferred shares, on the other hand, are perpetual, voting, non cumulative, and non-participating. These are convertible into common shares at market three years after issue date (30 September 2008) or beginning 30 September 2011.

The dividend rate is at 6.5% per annum of the par value. Holders of capital stock whether common or preferred, have no pre-emptive right to subscribe for or purchase any shares of any class. For additional details on the features of the Bank’s preferred shares, please refer to Note 19.3 of the 2010 Audited Financial Statements under Financial Statements of the IR section of this website