What are the Preferred Stocks in the Philippine Stock Market (PSE)?

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Preferred Shares are different from Common Shares in such a way that it doesn’t have voting rights to the company’s decision making; in short, a preferred share holder is not a part owner of the company. However, in terms of dividend payment and liquidation, in case of bankruptcy, preferred shares are more priority than common shares. Usually, preferred stocks have a fixed income distribution and calculated as a percentage of the issue price. Essentially, preferred shares are like debt securities or bonds.

In the Philippines, preferred shares are traded in the Stock Market (PSE), however, there are only a handful of companies in the country that offer preferred stocks, and unfortunately, almost all of them are rarely traded. Below are the preferred stocks that have a relatively higher trading activity and receive regular dividend;

Stock name / Ticker Symbol / Offer Price / Coupon or Dividend Rate
AYALA CORP. PREF. “A “ / ACPA / Php500 per share / 8.88%
AYALA CORP. PREF. “B” / ACPR / Php 100 per share / 9.46%
FIRST PHIL HLDGS. - PREF. / FPHP / Php 100 per share / 8.72%

Below is the list of PLDT preferred stocks that rarely traded but received a regular dividend;

PLDT (10% PREF) SERIES E (TELE)
PLDT (10% PREF) SERIES F (TELF)
PLDT (10% PREF) SERIES G (TELG)
PLDT (10% PREF) SERIES H (TELH)
PLDT (10% PREF) SERIES I (TELI)
PLDT (10% PREF) SERIES J (TELJ)
PLDT (10% PREF) SERIES K (TELK)
PLDT (10% PREF) SERIES L (TELL)
PLDT (10% PREF) SERIES M (TELM)
PLDT (10% PREF) SERIES N (TELN)
PLDT (10% PREF) SERIES O (TELO)
PLDT (10% PREF) SERIES P (TELP)
PLDT (10% PREF) SERIES Q (TELQ)
PLDT (10% PREF) SERIES R (TELR)
PLDT (10% PREF) SERIES S (TELS)
PLDT (10% PREF) SERIES T (TELT)
PLDT (10% PREF.) SERIES U (TELU)
PLDT (10% PREF) SERIES V (TELV)
PLDT (10% PREF) SERIES W (TELW)
PLDT (10% PREF) SERIES X (TELX)
PLDT (10% PREF) SERIES Y (TELY)
PLDT (10% PREF) SERIES Z (TELZ)
PLDT 10% PREF SERIES “AA” (TLAA)
PLDT 10% PREF SERIES “BB” (TLBB)
PLDT 10% PREF SERIES “CC” (TLCC)
PLDT 10% PREF SERIES “DD” (TLDD)
PLDT 10% PREF SERIES “EE” (TLEE)

On the other hand, below are the preferred stocks that are rarely traded and rarely received dividend.

ATS CORP. - PREFERRED (ATSP)
BENGUET CORP. CON. PREF (BCP)

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UPDATES:
As of Jan. 31, 2011, there have been new additions to the list of preferred stocks/shares that are traded in the PSE. Fortunately, these new stocks are relatively traded actively;

1. San Miguel Corporation Pref. Series “1″ (SMCP1) /Php 75.00 per share / 8.00% (Find historical dividend here–>http://www.jcmiras.net/surge/p288.htm)
2. Petron Corporation (PPREF) / Php100 per share/ 9.528% (Historical dividend here–> http://www.jcmiras.net/surge/p290.htm)




Category Filed in: Fixed Income, Stocks and Stock Market
Local date: February, 2012

  • Hi JC, first of all, congratulations and thanks for such a well done and informative site.

    I have a question to ask regarding preferred shares and ACPR in particular.  When my broker sent me a check for the redemption, apparently there were deductions of:
    .5% sales tax, 12% vat, .5% commission and SCCP, etc.. fees (minimal).  The total is rather hefty because they are effectively more than 1% of the par value per share.

    What I'd like to know is why preferred share redemptions are considered as a "sale" and if such deduction computations are to be expected for all preferred share redemptions?
  • jcmiras
    That's okay because essentially, when they (Ayala) redeemed that shares, its like you sold it back to them, just like when you bought the shares from them. It's subjected to taxes and commissions.

    I'm glad that you sold it at a premium. Maybe some traders are not aware that the shares will be redeemed already.
  • Actually, I waited for redemption, because my calculations did not take into account the .5% sales tax.  If I had known earlier, I would have sold at a premium like you mentioned here.
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