PLDT's (PSE:TEL) board declared a cash dividend of 12.2 million Philippine pesos on all of the outstanding shares of Series IV cumulative non-convertible redeemable preferred stock of the company.

The dividend is for the quarter ending March 15, payable on the same date to the holders of record as of Feb. 11, according to a Tuesday Philippine bourse filing.

The cash dividend will be paid out of the unaudited unrestricted retained earnings of the company, it said.