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Sec MC 11-2008 PDF
Sec MC 11-2008 PDF
a) Cash dividend;
c) Stock dividend.
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g. Appropriations of Retained Earnings during the period;
h. Reversals of appropriations;
j. Treasury shares.
b. when the corporation is prohibited under any loan agreement with any
financial institution or creditor, whether local or foreign, from declaring
dividends without its consent, and such consent has not yet been
secured; or TCaAHI
Copyright 1994-2018 CD Technologies Asia, Inc. Securities and Exchange Commission 2018 3
said income is actually realized or the earnings becomes available for
dividend declaration. Due to the effect on the investment account, only
cash or property dividends declared by the investee-company shall be
considered as earnings declarable as dividends by the investor company;
e. The amount of recognized deferred tax asset that reduced the amount of
income
tax expense and increased the net income and retained earnings, until realized;
The items above are defined in accordance with the financial reporting
framework, i.e., Generally Accepted Accounting Principles in the Philippines or
Philippine Financial Reporting Standards (PFRS), followed by the company.
Additional Paid-In Capital Stock shall neither be declared as dividend nor shall
it be reclassified to absorb deficiency except through an organizational restructuring
duly approved by the Commission.
i. For corporations mentioned under section (6) (a) and (b) (1), the
requirements provided in said sections shall be applicable to
audited financial statements for the period ended December 31,
2008 and onwards;
ii. For corporations covered under section (6) (b) (2), the
requirements of these Guidelines shall be applicable on
applications for approval of cash and/or property dividends or for
confirmation of stock dividends that will be filed starting
December 15, 2008.
(SGD.) FE B. BARIN
Chairperson
ANNEX A
Name of Company
Address
(Figures based on
functional currency audited
financial statements)
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Add: Net income actually earned/realized during the period
Add (Less):
Dividend declarations during the period (xxx)
Appropriations of Retained Earnings during the period (xxx)
Reversals of appropriations xxx
Effects of prior period adjustments xxx
Treasury shares (xxx)
––––
xxx
–––
Footnotes
1. A company with at least P50 Million in total assets or such other amount that the
Commission shall prescribe, and with 200 or more holders each holding at least 100
shares of a class of equity securities.
Published in the Manila Bulletin and Manila Standard on December 12, 2008.
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Endnotes
1 (Popup - Popup)
1. A company with at least P50 Million in total assets or such other amount that the
Commission shall prescribe, and with 200 or more holders each holding at least 100
shares of a class of equity securities. SacTCA
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