The bank will distribute treasury shares as property dividends following the anticipated merger with SM Keppel Land Inc., pending shareholder and regulatory approvals.
BDO will emerge as the surviving entity in the merger, which is expected to generate treasury shares amounting to about 1 percent of its currently outstanding shares.
This was in line with the goal to deliver enhanced value to BDO's shareholders.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
