Philippine company Century Properties Group Inc is beefing up its authorized capital to pave the way for a stock dividend declaration and obtain flexibility for future expansion, the Philippine Daily Inquirer reported citing the company’s disclosure to the Philippine Stock Exchange.

CPG said its board approved an increase in the company’s authorized capital to 9.54 billion pesos ($217.51 million). The currently authorized capital stock is 5.3 billion pesos.

Source: Reuters | June 24, 2014