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Frequently Asked Questions
- What is Aboitiz Power Corporation?
Aboitiz Power Corporation (AP) is the holding company of the Aboitiz Group’s investments in power generation and power distribution. - When did AP go public?
AP listed its shares of common stock in the Philippine Stock Exchange on July 16, 2007. - What are AP’s core businesses?
Aboitiz Power Corporation has core investments in power generation and power distribution in the Philippines. - What are its subsidiaries?
AP’s subsidiaries in the power generation business are involved in the operation of hydroelectric and oil-fired power plants located in Luzon, Visayas and Mindanao.
AP’s subsidiaries in the power distribution business are power utility companies with installations located in different parts of the Philippines. Included are the second and third largest electricity distribution utilities in the country.
AP has a wholly owned subsidiary that provides electricity-related services to distribution utilities and large electricity consumers. The same company holds licenses issued by the ERC to act as a Retail Electricity Supplier and a Wholesale Power Aggregator. - When does the company hold its regular annual Stockholders’ Meeting?
AP holds its regular stockholders’ meeting on the third Monday of May of every year. - Who is AP’s independent auditor?
AP's independent auditor is Sycip Gorres Velayo & Co. Their office is located at 6760 Ayala Avenue, Makati City, Philippines. - Where is AP’s common stock traded and what is its trading symbol?
AP’s shares of common stock are listed and traded in the Philippine Stock Exchange (PSE) under the trading symbol AP. - How can I receive regular information about the company?
To receive regular updates, Please input your email address on the text box on the left side of the page indicated by "Include me in your mailing list". - What is AP’s dividend policy?
AP’s cash dividend policy is to payout approximately one-third of its consolidated net income from the preceding fiscal year. - What is the applicable tax rate for dividends?
For an individual shareholder who is either a Filipino citizen or alien resident of the Philippines, cash and property dividends received are subject to a final withholding tax rate of 10%.
For a non-resident alien individual engaged in trade or business in the Philippines, cash and property dividends received are subject to a 20% tax on the gross amount.
For a non-resident alien individual not engaged in trade or business in the Philippines, cash and property dividends are subject to a 25% tax on the gross amount. This, however, is subject to the applicable preferential tax rates under tax treaties executed between the Philippines and the country of residence or domicile of such non-resident foreign individual.
Cash and property dividends received by another domestic corporation or by a resident foreign corporation are not subject to tax while those received by non-resident foreign corporations are subject to tax at the rate of 35%. This rate, however, may be reduced to 15% if the country of domicile of the non-resident foreign corporation allows a credit equivalent to 20% for taxes deemed to have been paid in the Philippines.
The foregoing (a) is based on laws in force as of the date of posting of this information (b) is subject to changes in law occurring after such date (c) does not purport to be a comprehensive description of all of the tax considerations that may be relevant to a decision to invest in the shares of the company and (d) does not purport to deal with the tax consequences applicable to all categories of investors, some of which may be subject to special rates. Investors are advised to consult their own tax advisers concerning the tax consequences of their investment in the company’s shares. - If I sell my shares, what are the applicable taxes on the proceeds?
If the sale is made through the PSE, a resident or non-resident shareholder is subject to a stock transaction tax at the rate of 0.5% of the gross selling price, unless an applicable tax law or treaty exempts such sale from said tax. This tax is required to be collected by the selling stockbroker on behalf of its client.
If the sale is made outside the PSE, the resident or non-resident shareholder is subject to a capital gains tax. The applicable tax rates are as follows: 5% on gains not exceeding P100,000 and 10% on gains over P100,000. These tax rates may not be applicable if a treaty exists, which exempts such gains from tax or provides for preferential rates.
The transfer of shares of stock is subject to a documentary stamp tax of P0.75 for each P200 par value or a fractional part thereof of the share of stock transferred.
The foregoing (a) is based on laws in force as of the date of posting of this information (b) is subject to changes in law occurring after such date (c) does not purport to be a comprehensive description of all of the tax considerations that may be relevant to a decision to invest in the shares of the company and (d) does not purport to deal with the tax consequences applicable to all categories of investors, some of which may be subject to special rates. Investors are advised to consult their own tax advisers concerning the tax consequences of their investment in the company’s shares. - If the share of stock was transferred from a deceased stockholder, what is the applicable tax on the transfer?
The transfer of shares of stock upon the death of an individual shareholder to his heirs by way of succession, whether such shareholder is a citizen of the Philippines or an alien, regardless of residence, is subject to an estate tax at progressive rates, ranging from 5% to 20%, if the net estate is over P200,000.
Estate tax, however, shall not be collected in respect of intangible personal property, such as shares of stock: (a) if the decedent at the time of his death was a citizen and resident of a foreign country which at the time of his death did not impose a transfer tax of any character, in respect of intangible personal property of citizens of the Philippines not residing in that foreign country, or (b) if the laws of the foreign country of which the decedent was a citizen and resident at the time of his death allowed a similar exemption from transfer or death taxes of every character or description in respect of intangible personal property owned by citizens of the Philippines not residing in that foreign country.
The foregoing (a) is based on laws in force as of the date of posting of this information (b) is subject to changes in law occurring after such date (c) does not purport to be a comprehensive description of all of the tax considerations that may be relevant to a decision to invest in the shares of the company and (d) does not purport to deal with the tax consequences applicable to all categories of investors, some of which may be subject to special rates. Investors are advised to consult their own tax advisers concerning the tax consequences of their investment in the company’s shares. - If the share of stock was transferred by way of gift or donation, what is the applicable tax on the transfer?
Individual and corporate shareholders, whether or not citizens or residents of the Philippines, who give or donate shares of stock are liable to pay Philippine donors’ tax on such transfer of shares, ranging from 2% to 15% of the net gifts during the year exceeding P100,000.
Donor’s tax, however, shall not be collected in respect of intangible personal property, such as shares of stock: (a) if the donor at the time of the donation was a citizen and resident of a foreign country which at the time of donation did not impose a transfer tax of any character, in respect of intangible personal property of citizens of the Philippines not residing in that foreign country, or (b) if the laws of the foreign country of which the donor was a citizen and resident at the time of donation allowed a similar exemption from transfer of every character or description in respect of intangible personal property owned by citizens of the Philippines not residing in that foreign country.
The foregoing (a) is based on laws in force as of the date of posting of this information (b) is subject to changes in law occurring after such date (c) does not purport to be a comprehensive description of all of the tax considerations that may be relevant to a decision to invest in the shares of the company and (d) does not purport to deal with the tax consequences applicable to all categories of investors, some of which may be subject to special rates. Investors are advised to consult their own tax advisers concerning the tax consequences of their investment in the company’s shares. - My name was erroneously printed on my stock certificates. How can this be corrected?
The stockholder should surrender the certificates to the stock transfer agent, together with the following requirements: - Affidavit of error in name
- Original stock certificates
- Presentation of two (2) valid Ids
- How can lost certificates be replaced?
The following requirements should be submitted to the stock transfer agent: - Affidavit of loss, duly signed by the stockholder. Should indicate the complete details of the stock certificate, i.e. certificate number and number of shares. In case the stockholder did not keep a record, required details may be obtained through the stock transfer agent.
- Affidavit of publication and sample/cut-out of the published notice (publication of notice should be made once a week for three (3) consecutive weeks in a newspaper of general circulation)
For immediate replacement, the stockholder must secure a bond good for one year covering at least 200% of the current market value of the shares concerned. Proof of payment should also be attached. - How can I transfer shares of stock of a deceased stockholder?
If the deceased died without a will, the following are the requirements that have to be submitted to the stock transfer agent. - Certified true copy of the Deed of Extrajudicial Settlement duly annotated by the Registry of Deeds
- Affidavit of publication and sample/cut-out of the published notice
- Publication of notice should be made once a week for three (3) consecutive weeks in a newspaper of general circulation
- Certificates will be issued under the name of heirs two years from the last date of publication of the Extrajudicial partition
- For immediate replacement, a stockholder must secure a two-year heir’s bond covering at least 200% of the current market value of the shares concerned issued by a duly accredited bonding company. Proof of payment should also be attached.
- Certified true copy of the death certificate
- Proof of payment of the estate tax
- Proof of payment of documentary stamps
- BIR clearance or CAR (Certificate Authorizing Registration)
- Original stock certificates
- Specimen signature card and photocopy of two (2) valid Ids validated by the broker or a bank officer where the heir maintains a deposit account
- The will has to be probated in court. The order from the court would then be the basis for the distribution of the properties to the heir.
- Letters of Testamentary (to determine who is the Executor/Administrator)
- Certified true copy of the death certificate
- Proof of payment of estate tax
- Proof of payment of documentary stamps
- BIR clearance or CAR (Certificate Authorizing Registration)
- Original stock certificates
- Specimen signature card and photocopy of two (2) valid IDs validated by the broker or a bank officer where the heir maintains a deposit account
- How can I sell my shares?
A stockholder who wishes to sell its shares can transact through any of the stockbrokerage houses, which are members of the Philippine Stock Exchange. - Who is AP’s stock transfer agent?
AP’s stock transfer agent is Securities Transfer Services, Inc. (STSI), which acts as the principal record-keeping agent for the company’s common stock. For inquiries, please call or write:
Mr. Antonio Galvez
Securities Transfer Services, Inc.
4th Floor Benpres Building
Exchange Road cor. Meralco Avenue
1600 Pasig City
Tel No. (63-2) 631-8024 to 30 / 449-6040
STSI keeps the record of every outstanding AP stock certificate and the name of the person to whom it is registered. When a stock is transferred from one person or entity to another, the transfer agent transfers the ownership of the stock and records the transaction. The transfer agent also handles the payment of dividends that the company may declare from time to time. - How do I change the address on my account?
You may submit your request in writing. Click here for the Proforma Letter, Aboitiz Power Corporation Shareholder Services Change of Address form. Complete and send to:
Mr. Antonio Galvez
Securities Transfer Services, Inc.
4th Floor Benpres Building
Exchange Road cor. Meralco Avenue
1600 Pasig City
Tel No. (63-2) 631-8024 to 30 / 449-6040
Please allow three (3) working days for processing
On the Company
On Dividends
On Taxation
On the Shares of Stock
On Stock Transfer Agency
Institutional Investor Inquiries
For inquiries from institutional investors, analyst, and the financial community, please call or write to APC Investors Relations
APC - Investors Relations
Tel. No. : (+6332) 411-1800
Fax. : (+6332) 231-4037
URL : www.aboitizpower.com
Shareholder Assistance
For inquiries regarding dividend payments, change of address and account status, lost or damaged stock certificates, please write or call Stock Transfer Services
Mr. Antonio Galvez
Securities Transfer Services, Inc.
4th Fllor Benpres Building
Exchange Road cor. Meralco Avenue
1600 Pasig City
Tel No. (63-2) 631-8024 to 30 / 449-6149
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