(NAR) VOL. 20 NO.2 / APRIL - JUNE 2009
“SECTION 3. All cash dividends declared by corporations shall have a record date which shall not be less than ten (10) nor more than thirty (30) days from said declaration. In case no record date is specified, then the same shall ipso facto be deemed fixed at fifteen (15) days from such declaration.
Provided, however, that companies that are obliged to pay dividends may have a single declaration for several cash dividends within a year subject to the condition that their record and payment dates are also explicitly provided,. (emphasis supplied)”
Effectivity
This amendment shall take effect fifteen (15) days after publication in two (2) newspapers of general circulation in the Philippines.
Adopted: 17 Apr. 2009
(SGD.) FE B. BARIN
Chairman
[1] Now Securities Code (SRC) R.A. 8799.