Amendment on dividend record dates

All cash dividends declared must have a record date.
The record date must be set no less than ten (10) days and no more than thirty (30) days from the date of declaration.
If no record date is specified, it is automatically deemed fixed at fifteen (15) days from the declaration date.

Companies obliged to pay dividends may issue a single declaration covering multiple cash dividends within a year.
Such declarations must explicitly specify the record and payment dates for each dividend.

The amendment takes effect fifteen (15) days following its publication.
Publication must be done in two newspapers of general circulation in the Philippines.

The prescribed timeframe for the record date ensures investors and the market have clear information and is consistent with transparency and fairness.
The provision for automatic record date prevents ambiguity or delay in the processing of dividends.
Allowing a single declaration for multiple dividends enhances administrative efficiency but requires explicit disclosure to maintain investor rights.
The effectivity clause enforces proper public notice and legal compliance prior to implementation.