GOCC dividends hit P106 billion, close in on year-end target

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December 28, 2025 | 12:00am

MANILA, Philippines — Government-owned or controlled corporations (GOCCs) have remitted more than P100 billion in dividends to the national government as part of the administration’s revenue share in the January to November period.

Based on the Bureau of the Treasury data, dividends reached P106.58 billion in the 11-month period, bringing collections close to the government’s full-year target.

The collections already represent 91 percent of the conservative P117 billion dividend projection cited by former finance secretary Ralph Recto, who earlier said total remittances could reach as much as P157 billion this year.

Government corporations contributed the largest share at P53.68 billion, or about half of total remittances, followed by government financial institutions, which account for 42.5 percent, while other government corporations accounted for seven percent.

The highest contributors are financial institutions, with Land Bank of the Philippines providing P26 billion and the Bangko Sentral ng Pilipinas contributing P18.9 billion.

All GOCCs are legally obligated to formally declare and remit to the government at least 50 percent of their total annual income, which may be transferred in the form of cash, stock or property dividends, in line with the Dividends Law.

These dividend payments generate non-tax revenue that helps fund and sustain the government’s wide-ranging infrastructure projects, social programs and economic development initiatives.

The Philippine Amusement and Gaming Corp. remitted P12.68 billion, followed by the Philippine Deposit Insurance Corp. which handed over P10.13 billion, while the Power Sector Assets and Liabilities Management Corp. contributed P8.96 billion.

Based on the revised implementing rules of the Dividends Law, the DOF may request GOCCs to remit more than the 50 percent minimum dividend if excess cash or windfall earnings are available.

Raising the remittance rate requires consultation with the Department of Budget and Management and the Governance Commission for GOCCs to ensure fiscal discipline and enhance government revenue collection efforts.