EEI Corp., a listed builder, is divesting its entire 300 percent shareholding in Shinbayanihan Heavy Equipment Corp., a crane rental company, to Yuk Nan Machinery Company Limited. The sale of 20,800 common shares for P10 million is part of EEI's strategy to rationalize its operations. EEI also announced an increase in the dividend rate for its preferred series 'C' shares and declared quarterly cash dividends on its series A, B, C, and D preferred shares.
LISTED builder EEI Corp. is getting out of the crane rental business and is selling its entire stake in Shinbayanihan Heavy Equipment Corp. to Yuk Nan Machinery Company Limited.EEI told the stock exchange on Friday that its board of directors had approved the sale of EEI's 20,800 common shares, or 300 percent shareholding in Shinabayanihan for P10 million.'The transfer documents are set to be signed upon completion of conditions precedent on closing,' the company said.
In a separate disclosure, EEI said that its board also approved an increase in the dividend rate set for the company's preferred series 'C' shares to 6.75 percent from 6.0 percent.EEI also declared quarterly cash dividends on its series A, B, C and D preferred shares.Cash dividends for series A and B, amounting to P1.441025 and P1.73485 per share, respectively, will be distributed on March 24, 2025 to shareholders on record as of March 3, 2025.Cash dividends of P1.
FINANCE INVESTMENT CORPORATE DIVIDENDS CRANE RENTAL
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