Voyager builds technology platforms and products for financial services, digital commerce, digital marketing and consumer engagement that enable individuals, businesses, organizations and whole cities to reach out and serve more people.
PLDT HOME believes that the strongest connections are at home. It provides Filipino families with a compelling suite of multimedia products and services so they can stay connected and easily access quality entertainment, information, security and other digital services in the comfort of their homes.
PLDT Enterprise is the group’s B2B arm and is tasked with the mission of empowering Philippine enterprises large and small as they pursue their respective digital transformation journeys.
ePLDT is the premier information and communications technology company in the country, delivering world-class solutions to both large enterprises and the SMEs across various industries.
PLDT Global delivers international services for overseas Filipinos as the leading offshore Filipino information and communications technology company.
Smart Communications is the group’s wireless services provider that provides a wide range of innovative prepaid, postpaid and mobile broadband services.
Sun offers a wide range of service innovations for mobile telephony from voice, messaging and international roaming services to wireless broadband and value-added services.
TNT is Smart's value brand that provides fast and reliable LTE connections and affordable call, text and data services.
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 firstname.lastname@example.org.
Follow us on social media: