Asia United Bank Corp. announced that shareholders recently approved key strategic capital initiatives designed to strengthen the bank’s balance sheet and position it for long-term expansion.
During a special stockholders’ meeting held on August 28, AUB stockholders formally approved the amendment of AUB’s Articles of Incorporation to increase its authorized capital stock by 393 percent to P72.50 billion from P14.70 billion, subject to regulatory approvals, a statement by the lender read.
Stockholders also approved the declaration of a 100-percent stock dividend, the official record date and payment date of which will be fixed and announced following the receipt of all requisite regulatory approvals.