GOCC dividends seen to hit record P147 billion this year

Transport GOCCs remit P15 billion in 2025  

MANILA, Philippines —  Government-owned or controlled corp. (GOCCs) are expected to remit a record P147 billion dividends to the national coffers this year, a major source of non-tax revenues for the government to fund state programs.

Finance Secretary Frederick Go, said total dividends amounts to P147.15 billion from 50 state-run firms, up by 29 percent from last year.

Of the total, P140 billion has already been remitted, with the remaining balance expected by year-end.

“As our economy continues to grow, our GOCCs remain vital partners in turning national assets into national progress. Every dividend they remit strengthens the capacity of the government to invest in the future of the Filipino people,” Go said.

Under Republic Act 7656 or the Dividends Law, state-run firms are required to remit at least 50 percent of their net earnings during the preceding year as dividends to the national government.

To boost non-tax revenues and strengthen the government’s fiscal position, the Department of Finance has requested that GOCCs increase their remittances to 75 percent.

With this, cumulative dividend collection under the Marcos administration is projected to reach P501.43 billion, averaging P125.36 billion annually.

“Every peso that you have remitted strengthens the government’s capacity to deliver better services without imposing additional tax burdens on ordinary Filipinos,” President Marcos said in his speech.

In just four years, this administration’s collection is already 31.1 percent higher than the P382.33 billion collected under the Duterte administration.

By comparison, the Aquino administration collected P164.81 billion, while the Arroyo government posted P84.16 billion.

The Bangko Sentral ng Pilipinas had the highest dividend remittance at P62.39 billion, followed by Land Bank of the Philippines with P25 billion, with an estimated additional collection of P7.35 billion by year-end.

Other major contributors included the Philippine Deposit Insurance Corp. (P9.69 billion), Manila International Airport Authority (P7.59 billion), Philippine Amusement and Gaming Corp. (P5.67 billion), Philippine Ports Authority (P5.33 billion), Power Sector Assets and Liabilities Management Corp. (P4.01 billion) and Bases Conversion and Development Authority (P2.6 billion).

Additional state-run firms remitting at least P1 billion were Clark Development Corp., Philippine Guarantee Corp., Philippine Charity Sweepstakes Office, Philippine Economic Zone Authority, Maharlika Investment Corp., Philippine National Oil Co. and Civil Aviation Authority of the Philippines

State-run transport agencies have remitted more than P15 billion in dividends to the government, led by regulators of major gateways, to raise public funds for infrastructure and social projects.

In a report, the Department of Transportation (DOTr) said its GOCCs have issued P15.29 billion in dividends to the Bureau of the Treasury for 2025.

The amount covers 11 percent of the P140 billion total dividends turned over by all GOCCs to the Treasury, boosting non-tax revenues that could be used for government projects.

Among DOTr GOCCs, the Manila International Airport Authority (MIAA) topped the list with a P7.59-billion dividend, gaining from its new role as regulator of the Ninoy Aquino International Airport. NAIA is now operated by private group New NAIA Infrastructure Corp.

As committed, NNIC hands over 82.16 percent of airport revenues to MIAA. Likewise, MIAA is no longer tasked to shoulder the heavy spending on NAIA, so it has more fiscal flexibility now.

The Philippine Ports Authority (PPA), one of the strongest dividend sources, pitched in a record P5.33 billion, lifted by its highest-ever revenue of P30.09 billion last year.

Further, the PPA has remitted P62.33 billion in dividends since 1986, of which more than a third at P41.5 billion has been made under the term of general manager Jay Santiago since 2016.

“The PPA is well-positioned to fund ongoing and upcoming port infrastructure projects aimed at enhancing trade facilitation, improving logistics efficiency and supporting our tourism’s growth,” Santiago said.

The Civil Aviation Authority of the Philippines, which handles provincial ports, came third with P1.2 billion. The agency gained from higher air traffic in 2025, lifted largely by domestic travel.

The DOTr also reported dividends from other agencies like the Clark International Airport Corp., amounting to P585.71 million. The amount is higher by 88 percent compared to 2024’s P310.99 million, indicating better fiscal control from the regulator of the Clark Civil Aviation Complex.

The Treasury received P452.42 million from the Cebu Ports Authority and P129.96 million from the Mactan-Cebu International Airport Authority. –   Elijah Felice Rosales