Meralco Employees Savings and Loans Association Inc. (MESALA) approved a final dividend equivalent to 3.20% of capital contribution as of December 31, 2013; this brings the total rate of dividend for the year to 18.20%.
The cash dividend was credited either to the members’ savings deposits or bank accounts. For the latter, the deposit was reduced by an amount corresponding to the maximum that may be credited to capital contribution.
Members may opt to transfer their dividend to capital contribution effective April 1, 2014. However, the P3,000 maximum amount for transfer is subject to the ceiling for capital contribution of P1.1 million for regular members and P11,000 for special members.
Additionally, the dividend that will be transferred to capital contribution must stay in the member’s savings account from dividend credit date until transfer date. Those who intend to transfer their dividend to capital contribution are required to submit a dividend crediting form via email or fax by March 28, 2014.
Mesala will no longer declare dividend for the rest of 2014 in line with the provision of BSP Circular 789 which requires that distribution of net income should be made only once in a calendar year.
Meanwhile, if you plan to set aside your dividends or midyear bonus for a nest egg, you might find the following tips useful.
Be inspired. Having a purpose (e.g., to have an investment fund to finance your travel for 2016) keeps you motivated and gives you something to look forward to.
Be specific. Set an exact amount and a target date for “redemption.” Specific goals may increase the probability of success and will help you track progress.
Be consistent. Placing money in your investment fund doesn’t have to be a “onetime- big-time” thing. Try the Regular Subscription Plan (RSP). Through the RSP, you are assured that your account will be automatically debited and invested in your fund/s of choice.
Be faithful. If the purpose of the investment fund is to finance your travels for 2016, don’t liquidate your investment on a whim. Stay invested. Keep your investment funds until your specified target date.
Be accountable. Identifying an “accountability partner” who shares the same resolution…will increase your chances of success. Your accountability partner will remind you of your goals when you begin to forget them. (With report from Kite Pamintuan. Excerpted from www.bpiassetmanagement. com)