C04707-2023
Ex-Date : Mar 24, 2023

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jun 15, 2023
2. SEC Identification Number
PW-121
3. BIR Tax Identification No.
000-438-366-000
4. Exact name of issuer as specified in its charter
BANK OF THE PHILIPPINE ISLANDS
5. Province, country or other jurisdiction of incorporation
MANILA, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
AYALA NORTH EXCHANGE TOWER 1 AYALA AVENUE COR. SALCEDO ST. LEGASPI VILLAGE, MAKATI CITY, METRO MANILA (current business address) Postal Code 1229
8. Issuer's telephone number, including area code
8246-5902 (CorpSec Off)/ 8246-5860 (IR)
9. Former name or former address, if changed since last report
-
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common 4,539,018,015
11. Indicate the item numbers reported herein
-

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Bank of the Philippine IslandsBPI

PSE Disclosure Form 6-3 - Declaration of Property Dividends References: SRC Rule 17 (SEC Form 17-C) and
Sections 6 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Payment Date for BPI Property Dividend and Reimbursement of Property Dividend Tax
Background/Description of the Disclosure

Further to our 14 June 2023 disclosure on the property dividend following the issuance by the Securities and Exchange Commission of the Certificate of Filing of the Notice of Property Dividend Declaration dated 13 June 2023 approving the declaration of property dividends consisting of 406,179,276 common shares of Bank of the Philippine Islands (“BPI”) held in treasury (“Property Dividend”), please be advised that the Payment Date, as fixed by the Management of BPI pursuant to its Board-delegated authority, is 16 June 2023.

Further, on 02 May 2023, BPI paid to the Bureau of Internal Revenue the final withholding tax due on the Property Dividend (“Property Dividend Tax”). In this regard, we wish to inform the Exchange that in accordance with the Property Dividend Distribution Guidelines and the Supplement to BPI Property Dividend Distribution Guidelines and Advisory to Depositary Participants disclosed through the Exchange in its reports dated 15 March 2023 and 18 April 2023, respectively, as well as the attached Property Dividend Distribution Procedures, BPI, acting only under the authority granted by the relevant stockholders, will sell a portion of the Property Dividend sufficient to reimburse BPI for the Property Dividend Tax paid. BPI shall commence the sale starting on the Payment Date.

The actual distribution of the Property Dividend shall be in accordance with the guidelines previously disclosed by BPI as amended/superseded by the attached Property Dividend Distribution Procedures.

Type of Securities

Property Dividend
Date of Approval by Board of Directors Mar 15, 2023
Date of Approval by Stockholders N/A
Date of Approval by Securities and Exchange Commission, if applicable Jun 13, 2023
Other Relevant Regulatory Agency, if applicable N/A
Date of Approval by Relevant Regulatory Agency, if applicable N/A
Property to be Distributed Common shares of stock of BPI
Entitlement Ratio 0.0896395563 common share for every one (1) common share of BPI
Record Date (to be determined after necessary approvals) Mar 29, 2023
Payment Date (to be determined after necessary approvals) Jun 16, 2023
Other Relevant Information

Please note that the Property Dividend Tax shall be computed based on the fair market value of the BPI shares, which shall be the higher of its closing price in the Exchange on Declaration Date or the price at which the Property Dividend shares are crossed via the Exchange on Payment Date (the “FMV”).
Filed on behalf by:
Name Maria Lourdes Gatmaytan
Designation Corporate Secretary