AbaCore Capital Holdings, Inc. Announces Dividend Guidance
May 11, 2020 at 08:44 pm
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AbaCore Capital Holdings, Inc. at the board of directors meeting held on May 11, 2020 affirmed its commitment to its 10% annual dividend policy. Considering the current pandemic, the Board has decided to amend its previously declared 10% cash dividend for 2020 currently pending implementation and convert the same into an equivalent stock dividend. This is in line with the company's goal to maintain liquidity and reserve funds considering the devastating effects of Covid-19 to the
Philippine economy and the entire world. The liquidity will be a strategic corporate resource that can be easily deployed to take advantage of new projects and new sources of recurring revenue under the new paradigm of business developments.
AbaCore Capital Holdings, Inc. is a Philippines-based holding company. The Company has interests in the leasing of gaming equipment, gold and coal mining, real estate and financial services. The Company operates through three segments: holding company, real estate business and financial services. The holding company segment is primarily engaged in purchasing, owning, holding, transferring, or disposing of real property of every kind and description, including shares of stocks and other securities, contracts or obligations of any corporation or association. The real estate segment includes purchases of land for appreciation. The financial services segment is involved in the accumulation of deposits and extension of rural credits to small farmers and tenants and to deserving rural industries or enterprises. The Company holds 102 gold mining claims in Agusan del Sur and Surigao del Sur and seven coal blocks, each containing 1,000 hectares, located in Surigao del Sur.