Cirtek Holdings Philippines Corp. on Wednesday said that dividend payments on its preferred shares remain suspended, citing liquidity constraints and a slowdown in global market demand.
The company, however, reassured investors that the dividends, which are cumulative, would be paid once financial conditions improve.
Cirtek's board approved the suspension in October 2025 as part of a strategy to preserve resources and ensure the company's long-term sustainability.
The affected shares include Preferred B-2 Subseries A Shares, Preferred B-2 Subseries B Shares, Preferred B-2 Subseries C Shares and Preferred B-2 Subseries D Shares.
In a statement responding to queries from the Philippine Stock Exchange (PSE), the company said it currently lacked sufficient unappropriated retained earnings to declare dividends or redeem preferred shares.
Cirtek added that it would reassess the availability of funds after completing its audited financial statements for 2025, at which point a timeline for payments may be announced.
To strengthen its financial position, the company said it was taking several measures, including implementing internal efficiency improvements, exploring potential collaborations and funding options, actively seeking new investors and reviewing its debt obligations and capital structure.
“The company fully recognizes that the dividends on the preferred shares are cumulative,” Cirtek said, emphasizing its commitment to fulfilling all dividend obligations once resources allow.
Arrears from the suspension will also be paid in accordance with the terms and conditions of the shares.
Cirtek shares fell by 2 centavos, or 2.63 percent, to close at P0.74 each on Wednesday.