SEC MEMORANDUM CIRCULAR NO. 02, S. OF 2009

: The record date for cash dividends must be set not less than ten (10) days and not more than thirty (30) days from the date of declaration.
: If no record date is specified, it shall ipso facto be deemed fixed at fifteen (15) days from the date of declaration.
: Yes, companies obliged to pay dividends may have a single declaration for several cash dividends within a year, provided that the record and payment dates are explicitly stated.
: The amended rules refer to the Revised Securities Act (now the Securities Code, R.A. 8799) as the governing securities law.
: The amendment took effect fifteen (15) days after its publication in two newspapers of general circulation in the Philippines.
: The amendment was approved by the Commission En Banc during its meeting on April 2, 2009.
: 'Record date' refers to the date set by the corporation to determine the stockholders who are entitled to receive the declared cash dividends.
: Specifying payment dates ensures that stockholders are informed when the dividends will be paid, maintaining transparency and compliance with the rules.
: It applies to corporations whose securities are registered under the Revised Securities Act or listed in the stock exchange.
: The SEC Chairman, as indicated by the signature of FE B. Barin, certifies and officially promulgates the memorandum circular after the Commission En Banc's approval.