On Nov. 28, 2024, the board of directors of First Gen Corporation approved the declaration of cash dividends on the corporation’s common shares in the amount of P0.45 per share with a record date of Dec. 12, 2024 and payment date of Dec. 23, 2024.

The board also declared cash dividends of P0.02 per share on 1 billion Series “B” preferred shares and P0.01 per share on 468,553,892 Series “E” preferred shares. Both have a record date of Dec. 12, 2024 and payment date of Jan. 6, 2025.

Meanwhile, First Gen subsidiary First Gen Hydro Power Corporation signed loan agreements worth P7 billion with BDO Unibank Inc., Bank of the Philippine Islands (BPI) and Rizal Commercial Banking Corporation (RCBC).

The loan facilities will be utilized for FG Hydro’s general corporate requirements. FG Hydro owns and operates the 132-megawatt Pantabangan-Masiway hydroelectric power plant in Nueva Ecija.

“Hydroelectric plants play a crucial role in our country’s energy security and decarbonization goals. This financing will enhance our capability to offer a competitive portfolio of clean energy to the nation. We are very grateful for the continued trust and support of our partner banks BDO, BPI and RCBC,” said First Gen chief financial officer Emmanuel Singson.