Union Bank declares P1.15B in cash dividends

Union Bank of the Philippines on Thursday disclosed that it would be paying more than P1.15 billion in cash dividends to its shareholders. In a statement to the Philippine Stock Exchange, Union Bank said it has received board approval to declare a cash dividend of P1.80 per share fro retained earnings as of the end of 2007. The lender said it would announce record and payment dates after the dividend declaration has been approved by the PSE and the Bangko Sentral ng Pilipinas. Union Bank is the lending unit of the Aboitiz Group. - GMANews.TV