Remittance of Cash Dividends which Accrued to Foreign Investments in Listed Securities

CBP CIRCULAR LETTER Series of 1993

TO : All Authorized Agent Banks (AABs), Stock Brokers, Stock Transfer Agents and All Concerned

SUBJECT : Remittance of Cash Dividends which Accrued to Foreign Investments in Listed Securities

Registered under the Old Registration Document Form (Prior to CB Circular 1353 dated August 24, 1992) Pursuant to MB Resolution No. 156 dated February 26, 1993, effective immediately, cash dividends accruing to foreign investments in listed securities still registered under the registration system existing prior to CB Circular 1353 dated August 24, 1992, may be remitted thru any commercial bank without need of Central Bank Confirmation Document (CBCD), subject, however, to the submission to the remitting bank of a cash dividend schedule (sample attached) and a copy of the pertinent Board Resolution authorizing the declaration of the cash dividends being requested to be remitted.

The remitting commercial bank shall submit to CB a statement of remittance together with the said supporting documents within two (2) banking days from date of actual remittance.

JOSE L. CUISIA, JR. Governor