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Equity (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

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, 2020 and 2019 are as follows:

		2020				2019
		(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⁾ 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, 2020, 2019 and 2018 are detailed as follows:

December 31, 2020

Date

Amount

Class

Approved

Record

Payable

Per Share

Total

(in million pesos, except per share amounts)

10% Cumulative Convertible    Redeemable Preferred Stock

Series JJ

April 8, 2020

February 11, 2020

May 12, 2020

0.0027/day

—

Cumulative Non-Convertible    Redeemable Preferred Stock

Series IV*

January 28, 2020

February 24, 2020

March 15, 2020

—

12

May 7, 2020

May 21, 2020

June 15, 2020

—

13

August 6, 2020

August 20, 2020

September 15, 2020

—

12

November 5, 2020

November 19, 2020

December 15, 2020

—

12

49

Voting Preferred Stock

March 5, 2020

March 25, 2020

April 15, 2020

—

3

June 9, 2020

June 24, 2020

July 15, 2020

—

2

September 29, 2020

October 13, 2020

October 15, 2020

—

2

December 3, 2020

December 18, 2020

January 15, 2021

3

10

Common Stock

Regular Dividend

March 5, 2020

March 19, 2020

April 3, 2020

39.00

8,426

August 6, 2020

August 20, 2020

September 4, 2020

38.00

8,210

16,636

Charged to retained earnings

16,695

* Dividends were declared based on total amount paid up.

December 31, 2019

Date

Amount

Class

Approved

Record

Payable

Per Share

Total

(in million pesos, except per share amounts)

10% Cumulative Convertible    Redeemable 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

—

12

May 9, 2019

May 24, 2019

June 15, 2019

—

12

August 8, 2019

August 27, 2019

September 15, 2019

—

13

November 7, 2019

November 22, 2019

December 15, 2019

—

12

49

Voting Preferred Stock

March 7, 2019

March 27, 2019

April 15, 2019

—

3

June 11, 2019

June 28, 2019

July 15, 2019

—

2

September 24, 2019

October 8, 2019

October 15, 2019

—

2

December 3, 2019

December 18, 2019

January 15, 2020

—

3

10

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)

10% Cumulative Convertible    Redeemable 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

—

12

May 10, 2018

May 25, 2018

June 15, 2018

—

12

August 9, 2018

August 28, 2018

September 15, 2018

—

13

November 8, 2018

November 23, 2018

December 15, 2018

—

12

49

Voting Preferred Stock

March 8, 2018

March 28, 2018

April 15, 2018

—

3

June 13, 2018

June 29, 2018

July 15, 2018

—

2

September 25, 2018

October 9, 2018

October 15, 2018

—

2

December 4, 2018

December 19, 2018

January 15, 2019

—

3

10

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.

Our dividends declared after December 31, 2020 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 26, 2021

February 22, 2021

March 15, 2021

—

12

Voting Preferred Stock

March 4, 2021

March 24, 2021

April 15, 2021

—

3

15

Common Stock

Regular Dividend

March 4, 2021

March 18, 2021

April 6, 2021

40.00

8,642

Charged to retained earnings

8,657

* 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, 2020:

		(in million pesos)
Consolidated unappropriated retained earnings as at December 31, 2019			18,063
Effect of IAS 27, Consolidated and Separate Financial Statements, adjustments			17,120
Parent Company’s unappropriated retained earnings at beginning of the year			35,183
Less: Cumulative unrealized income – net of tax:
Unrealized foreign exchange gains – net (except those attributable to cash and cash equivalents)			(996	)
Fair value adjustments of investment property resulting to gain			(1,117	)
Fair value adjustments (mark-to-market gains)			(3,440	)
Parent Company’s unappropriated retained earnings available for dividends as at January 1, 2020			29,630
Parent Company’s net income for the year			13,593
Less: Fair value adjustment of investment property resulting to gain			(29	)
Unrealized foreign exchange gains – net (except those attributable to cash and cash equivalents)			(1,365	)
			12,199
Less: Cash dividends declared during the year
Preferred stock			(59	)
Common stock			(16,636	)
			(16,695	)
Parent Company’s unappropriated retained earnings available for dividends as at December 31, 2020			25,134

X

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