The Board of Directors of Union Bank of the Philippines, at a special meeting held on February 1 2023, approved the declaration of cash dividend of PHP 2.00 per share in favor of all stockholders of the Bank, payable from the unrestricted retained earnings of the Bank as of December 31, 2022. The record date for stockholders entitled to the cash dividend is February 15, 2023, and payment date is set on February 27, 2023.