PPA remits P4.44 billion in 2022 dividends to Treasury

THE Philippine Ports Authority (PPA) said it remitted to the National Government (NG) was P4.44 billion for 2022, up 9%.

“The latest dividends contribution from PPA will greatly help our government’s recovery efforts from the pandemic especially now that we are gaining momentum towards economic recovery,” PPA General Manager Jay Daniel R. Santiago said in a statement.

The PPA said it remains a consistent top performer among government-owned and -controlled corporations (GOCCs) in the Corporate Governance Scorecard.

Between 2016 and 2022, the PPA remitted P25.91 billion, with dividends peaking at P5.05 billion in 2019.

Republic Act No. 7656, or the Dividend Law, requires GOCCs to declare and remit at least 50% of net earnings as cash, stock or property dividends to the NG. — Justine Irish D. Tabile