Nov. 23 (Bloomberg) -- Banco de Guayaquil SA, Ecuador’s second-biggest publicly-traded bank by loans, said it approved a $10 million cash dividend for shareholders, according to a regulatory filing.

The dividend payment must first receive approval from the South American nation’s banking regulator, the company said in a statement published today on the Quito securities exchange’s website. The statement didn’t give the per share amount.

--Editor: Glenn J. Kalinoski

To contact the reporter on this story: Nathan Gill in Quito at ngill4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at Papadopoulos@bloomberg.net