Philippine Estates Corporation announced that on 14 July 2021, the Board of Directors of the Corporation approved the adoption of a new dividend policy effective 2021. Under the dividend policy, the Corporation has approved a dividend policy of maintaining an annual cash and/or share dividend pay-out of up to 10% of its net profit after tax from the preceding year, subject to: the requirements of applicable laws and regulations, such as the availability of unrestricted retained earnings; the terms and conditions of its outstanding bonds and loan facilities, as the case maybe; and (iii) the absence of circumstances that may restrict the payment of such dividends, such as where the Corporation undertakes major projects and developments.