Metro Manila (CNN Philippines, October 9) — Del Monte Pacific Ltd. began paying investors the first dividend from the company’s dollar-denominated preferred shares.

Investors will enjoy a yield of 6.625% per annum, equivalent to roughly $0.33 per share, for the period April to October, Del Monte said in a statement issued Monday.

“In addition to the coupon rate, investors who plan to convert (their dividend) to Philippine peso also benefit from the appreciation of the U.S. dollar,” it said.

The exchange rate was P50.17 to a dollar when the food giant issued its dollar-denominated shares on April 7. Since then, the greenback has strengthened considerably to P51.15 to the peso as of last Friday, October 6.

Del Monte raised around $200 million from the shares’ initial offer. The balance of $150 million has yet to be issued.

The dollar issuance was the first ever offered in the Philippine Stock Exchange.

The proceeds were used to refinance Del Monte’s $350-million loan with BDO Unibank. The company took out the loan when it bought out its parent company, the United States-based Del Monte Foods, Inc., for $1.7 billion in 2014.

Del Monte is the market leader in various food and beverage categories in the Philippines, including pineapples, tropical mixed fruits, tomato sauces, spaghetti sauces and fruit juices.

In the U.S., it leads in packaged vegetables and packaged fruits. It’s also the second largest provider of packaged tomatoes and broths.