Equity (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Number of Shares of Subscribed and Outstanding Capital Stock

PLDT’s number of shares of subscribed and outstanding capital stock as at December 31, 2019 and 2018 are as follows:

	2019		2018
	(in million shares)
Authorized
Non-Voting Serial Preferred Stock		388		388
Voting Preferred Stock		150		150
Common Stock		234		234
Subscribed
Non-Voting Serial Preferred Stock⁽¹⁾		300		300
Voting Preferred Stock		150		150
Common Stock		219		219
Outstanding
Non-Voting Serial Preferred Stock⁽¹⁾		300		300
Voting Preferred Stock		150		150
Common Stock		216		216
Treasury Stock
Common Stock		3		3

⁽¹⁾

Includes 300 million shares of Series IV Cumulative Non-Convertible Redeemable Preferred Stock subscribed for Php3 billion, of which Php360 million has been paid.

Summary of Dividends Declared

Our dividends declared for the years ended December 31, 2019, 2018 and 2017 are detailed as follows:

December 31, 2019

Date

Amount

Class

Approved

Record

Payable

Per Share

Total

(in million pesos, except per share amounts)

Cumulative Convertible

Preferred Stock

Series JJ*

May 9, 2019

May 31, 2019

June 28, 2019

1.00

—

Cumulative Non-Convertible

Redeemable Preferred Stock

Series IV*

January 29, 2019

February 22, 2019

March 15, 2019

—

May 9, 2019

May 24, 2019

June 15, 2019

—

August 8, 2019

August 27, 2019

September 15, 2019

—

November 7, 2019

November 22, 2019

December 15, 2019

—

Voting Preferred Stock

March 7, 2019

March 27, 2019

April 15, 2019

—

June 11, 2019

June 28, 2019

July 15, 2019

—

September 24, 2019

October 8, 2019

October 15, 2019

—

December 3, 2019

December 18, 2019

January 15, 2020

—

Common Stock

Regular Dividend

March 21, 2019

April 4, 2019

April 23, 2019

36.00

7,778

August 8, 2019

August 27, 2019

September 10, 2019

36.00

7,778

15,556

Charged to retained earnings

15,615

*	Dividends were declared based on total amount paid up.

December 31, 2018

Date

Amount

Class

Approved

Record

Payable

Per Share

Total

(in million pesos, except per share amounts)

Cumulative Convertible

Preferred Stock

Series JJ

June 13, 2018

June 28, 2018

June 29, 2018

1.00

—

Cumulative Non-Convertible

Redeemable Preferred Stock

Series IV*

January 22, 2018

February 21, 2018

March 15, 2018

—

May 10, 2018

May 25, 2018

June 15, 2018

—

August 9, 2018

August 28, 2018

September 15, 2018

—

November 8, 2018

November 23, 2018

December 15, 2018

—

Voting Preferred Stock

March 8, 2018

March 28, 2018

April 15, 2018

—

June 13, 2018

June 29, 2018

July 15, 2018

—

September 25, 2018

October 9, 2018

October 15, 2018

—

December 4, 2018

December 19, 2018

January 15, 2019

—

Common Stock

Regular Dividend

March 27, 2018

April 13, 2018

April 27, 2018

28.00

6,050

August 9, 2018

August 28, 2018

September 11, 2018

36.00

7,778

13,828

Charged to retained earnings

13,887

*	Dividends were declared based on total amount paid up.

December 31, 2017

Date

Amount

Class

Approved

Record

Payable

Per Share

Total

(in million pesos, except per share amounts)

Cumulative Convertible Preferred Stock

Series JJ

May 12, 2017

June 1, 2017

June 30, 2017

1.00

—

Cumulative Non-Convertible

Redeemable Preferred Stock

Series IV*

February 7, 2017

February 24, 2017

March 15, 2017

—

May 12, 2017

May 26, 2017

June 15, 2017

—

August 10, 2017

August 25, 2017

September 15, 2017

—

November 9, 2017

November 28, 2017

December 15, 2017

—

Voting Preferred Stock

March 7, 2017

March 30, 2017

April 15, 2017

—

June 13, 2017

June 27, 2017

July 15, 2017

—

September 26, 2017

October 10, 2017

October 15, 2017

—

December 5, 2017

December 20, 2017

January 15, 2018

—

Common Stock

Regular Dividend

March 7, 2017

March 21, 2017

April 6, 2017

28.00

6,049

August 10, 2017

August 25, 2017

September 8, 2017

49.00

10,371

16,420

Charged to retained earnings

16,479

*	Dividends were declared based on total amount paid up.

Our dividends declared after December 31, 2019 are detailed as follows:

Date

Amount

Class

Approved

Record

Payable

Per Share

Total

(in million pesos, except per share amounts)

Cumulative Non-Convertible

Redeemable Preferred Stock

Series IV*

January 28, 2020

February 24, 2020

March 15, 2020

—

Voting Preferred Stock

March 5, 2020

March 25, 2020

April 15, 2020

—

Common Stock

Regular Dividend

March 5, 2020

March 19, 2020

April 3, 2020

8,426

Charged to retained earnings

8,441

*	Dividends were declared based on total amount paid up.

Summary of Reconciliation of Consolidated Retained Earnings Available for Dividend Declaration

The following table shows the reconciliation of our consolidated retained earnings available for dividend declaration as at December 31, 2019:

	(in million pesos)
Consolidated unappropriated retained earnings as at December 31, 2018 (as previously stated)		6,861
Effect of IAS 27, Consolidated and Separate Financial Statements, adjustments		25,692
Effect of adoption of IFRS 16		(136	)
Parent Company’s unappropriated retained earnings at beginning of the year (as stated)		32,417
Less: Cumulative unrealized income – net of tax:
Unrealized foreign exchange gains – net (except those attributable to cash and cash equivalents)		(523	)
Fair value adjustments of investment property resulting to gain		(888	)
Fair value adjustments (mark-to-market gains)		(3,440	)
Parent Company’s unappropriated retained earnings available for dividends as at January 1, 2019		27,566
Parent Company’s net income for the year		18,381
Less: Fair value adjustment of investment property resulting to gain		(229	)
Unrealized foreign exchange gains – net (except those attributable to cash and cash equivalents)		(473	)
		17,679
Less: Cash dividends declared during the year
Preferred stock		(59	)
Common stock		(15,556	)
		(15,615	)
Parent Company’s unappropriated retained earnings available for dividends as at December 31, 2019		29,630