Dividend payment for preference shares, first dollar denominated securities listed in the Philippines

Del Monte Pacific Limited (the “Company”) will be paying the first dividend for its Series A-1 Preference Shares today. The coupon rate is 6.625% per annum, or equivalent to US$0.33125 per Series A-1 Preference Share for the six-month period from 7 April 2017 to 7 October 2017.

One of the features of the Company’s Series A Preference Shares is that it is a US Dollar-denominated investment on which investors receive their principal and dividends in US Dollars. Historically, the US Dollar has been a strong currency. When the Company’s Series A-1 Preference Shares listed on the Philippine Stock Exchange on 7 April 2017, the exchange rate was 1 US Dollar to 50.17 Philippine Pesos. The current exchange rate is 1 US Dollar to about 51 Philippine Pesos. In addition to the coupon rate, investors who plan to convert to Philippine Peso also benefit from the appreciation of the US Dollar.

The Series A-1 Preference Shares are the first US Dollar-denominated securities to be listed in the Philippines under the trading symbol “DMPA1”. The Company generated approximately US$200 million during the initial offer of its Series A Preference Shares. The balance of US$150 million has yet to be issued.

Press release from Del Monte Pacific Limited