PLDT ALPHA is the trusted expert end-to-end ICT partner of the top enterprise market, delivering innovative ICT solutions and a premium grade customer experience.
PLDT HOME believes that the strongest connections are at home. By providing a compelling suite of multimedia services and solutions, Filipino families stay connected and can easily access quality entertainment at the comfort of their homes.
PLDT SME Nation draws inspiration from the unique Filipino entrepreneurial spirit, formed to boost and empower the small-, and medium-sized businesses that form the essential backbone of the Philippine economy.
Enjoy limitless possibilities with international services only from PLDT Global.
We are committed to be the leading offshore Filipino ICT Company.
Smart Communications is the Philippines' leading wireless services provider. Enjoy
the widest range of prepaid, postpaid, and mobile broadband services only from Smart!
Sun offers a wide range of service innovations for mobile telephony from
voice, messaging and international roaming services, to wireless broadband and value-added
ePLDT is the premier Information and Communications Technology (ICT) company in the country, delivering world-class solutions to both large enterprises and the SMEs across various industries.
Home → PLDT News Center → News
MANILA, Philippines, 29 January 2008 –– Philippine Long Distance Telephone Company (NYSE : TEL; PSE : PLDT) announced that its Board of Directors, at a meeting held earlier today, approved a share buyback program of up to 2 million shares representing approximately 1.1% of the Company’s total outstanding common shares. The buyback will continue until the number of shares earmarked for the program has been fully repurchased, or until such time as the Company’s Board of Directors determines otherwise.The Company has sufficient unrestricted retained earnings to cover the amount for the program. Implementation of the share buyback program will be undertaken by PLDT’s Treasury Group.The plan is to reacquire the shares on an opportunistic basis, direct from the open market through the trading facilities of the PSE and/or the NYSE.
The share buyback program reflects PLDT’s commitment to capital management as an important element in enhancing shareholder value.The program reinforces initiatives the Company has already undertaken such as the declaration of special dividends on the basis of a “look back” approach on top of the regular dividend pay out of 70% on common shares.
The buyback program also manifests the Company’s confidence in the inherent value of its shares especially at times when, from time to time, the market value falls below such level.The program is not expected to affect any of the Company’s existing or prospective projects or programs and dividend policy.
Requisite disclosures to the PSE, SEC and NYSE shall be filed following each repurchase of shares.
PLDT.com News Center contains company news and featured content from the PLDT Group.
For media inquiries, email us at email@example.com.
Follow us on social media: