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Phoenix skips preferred dividends
Manila Bulletin
|September 24, 2025
Phoenix Petroleum Philippines Inc. informed the Philippine Stock Exchange (PSE) that it is unable to pay dividends due to its preferred shareholders because it has no unappropriated retained earnings.
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The PSE had written to Phoenix Petroleum, directing it to give an update on the redemption and payment of dividends of the company’s preferred shares in response to several queries.
“Inasmuch as the company would like to make such dividend payments, just as stated in the company’s previous updates, as of the moment the company has no unappropriated retained earnings, hence, the company is unable to declare and payout any cash dividends for any class of shares,” the firm said.
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