Pacific Online Systems Corp. said Friday it would sell additional lottery scratch cards worth P400 million.

The company is the lottery equipment provider of state-run Philippine Charity Sweepstakes Office (PCSO) in Visayas and Mindanao. It was also tapped by PCSO to print, market and distribute scratch cards under its instant ticket games.

Instant ticket lottery is played by removing the coating of a pre-printed ticket to determine if it has the winning numbers. Each ticket costs P20.00 and prizes can reach as high as P1 million.

Following the success of the Triple Cash and Money Bag scratch card games last year, Pacific Online and PCSO launched in the first half of this year four new game variants-- Lucky 8's, Payday, Diamond Dash and Fast Cash.

In another development, Pacific Online disclosed to the Philippine Stock Exchange its plans to buy back 2 million of its shares to boost its stock price. Its shares closed up P0.10 or 1.2 percent at P8.50 each on Friday.

The company also said that its board has approved a cash dividend of P0.08 per share to stockholders of record as of August 8, 2008, and another P0.17 per share to those of record as of November 17, 2008. It did not specify the payment dates.

"The foregoing resolutions are subject to regulatory compliances," it said.

Pacific Online said it wanted to adopt a dividend policy to create more value for its shareholders.

In May, the company declared P49.8 million in dividends after it posted strong earnings in the first quarter of the year.

"We expect this trend to continue throughout the rest of the year," said company chairman and president Willy Ocier.

Pacific Online is targeting a net income of P200 million this year.