Ayala Corporation (AC) has declared a property dividend for its shareholders. Eligible shareholders will received ACEN shares minus withholding tax. 


Here are the Dividend Details:

Ex-Dividend Date:
May 24, 2022
Payable Date:
To Be Announced
Dividend Rate: 3 ACEN shares for every 1 AC share


Here is a table of the withholding tax rate for shareholders depending on their citizenship and residency status:

Filipino citizen10% withholding tax rate 
Resident foreign investor10% withholding tax rate 
Non-resident foreign investor25% withholding tax rate

Note: For corporation and a detailed list of the withholding tax rate, please check the attached disclosure found below.


The withholding tax will be debited from the ACEN shares that each shareholder is eligible for. Below is a sample computation for your reference:

Eligible AC Shares:770 AC shares
Gross ACEN entitlement:
770 AC shares x 3 dividend rate = 2,310 ACEN shares
Withholding Tax (ex. 25%):2,310 gross entitlement x 25% withholding tax rate = 578 shares (rounded up)
Net Entitlement: 2,310 gross entitlement - 578 ACEN withholding tax = 1,732 ACEN shares


The net entitled shares will be credited to your COL account on the payable date. Please note that payable date has yet to be announced. The date will be updated in PSE Edge once it is available.