ACEN to deliver Q4 cash dividends

ENERGY firm ACEN Corp. on Friday declared cash dividends for the fourth quarter on its outstanding Series A and Series B preferred shares, payable to stockholders of record as of November 17.

In a disclosure, it said that the cash dividend for the Series A preferred shares would be paid at the rate of one-fourth of 7.133 percent per annum, equivalent to P17.8325 per share.

For the Series B preferred shares, the cash dividend will be paid at the rate of one-fourth of 8 percent per annum, equivalent to P20.00 per share.

The payment date will be on Dec. 1, 2023.

ACEN said the dividend payment would come from unrestricted retained earnings as of September 30 this year.

On Friday, the company’s shares rose by P0.08 to close at P5.38 each.