Davao Light and Power Co. partners with Progressive Asset Management Inc. to secure its employees' financial needs upon retirement. DLPC said during one of their collective bargaining agreement negotiations in 2006, that the management and the workers mutually agreed to look into ways by which they could ensure that their employees' needs would be sustained even after retirement. It was then that the company started discussing with the employees about pension plans and other saving schemes, and consequently solicited various proposals from banks and finance institutions. PIP is intended primarily for companies with employees who may want to set aside funds for their future through a savings scheme. With PIP, an investor can avail of a scheme where one can make monthly investments according to one's budget. For employees of company-endorsed PIP, the minimum initial investment is only PHP 1,000 and the required minimum participants per company is only 10 employees. For other individuals, minimum initial investment is PHP 10,000. For both investor types, minimum amount for succeeding investments is only PHP 1,000 monthly over a specified term. Investing is made easy as this is done via salary deduction or issuance of postdated checks.

Progressive Asset Management Inc. declared a 7 cent special dividend for common shareholders. The company's Board of Directors authorized the dividend at a Board meeting held on March 12, 2008. The dividend will be issued on April 8, 2008 for shareholders of record as of March 24th, 2008.

Progressive Asset Management Inc., Board Meeting, Mar 12, 2008 Agenda: To declare a 7 cent special dividend for common shareholders, payable on April 8, 2008.