PNX continues to rally! Higher high!

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PNX continues to rally and achieves a higher high at 9.14. PNX closed slightly below at 9.10 but a good improvement from an open of 9.0 which was the level of yesterday's high.

News on PNX:
DCL #6116: Phoenix Petroleum stock dividend declaration
We refer to Circular Nos. 2338-2010 (dated April 12, 2010) and 4900-2010 (dated July 16, 2010) regarding the approval by the Board of Directors and stockholders of Phoenix Petroleum Philippines Inc. ("PNX") of the declaration of a 40% stock dividend and the increase in its authorized capital stock from Php400,000,000.00 to Php800,000,000.00… Finally, pursuant to the stock dividend declaration approved by the Board of Directors and ratified by the stockholders, the Company as confirmed by the Commission would like to announce that all stockholders as of record date of September 24, 2010 shall be entitled 40% stock dividends to be issued and paid on October 20, 2010…. STOCK DIVIDEND (UPDATE): Stock - 40% Ex-Date - September 21, 2010 Record Date - September 24, 2010 Payment Date - October 20, 2010

Source: Technistock
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