The Philippine Amusement and Gaming Corporation (PAGCOR) turned over today, May 14, a total of Php12.67 billion in dividends to the National Treasury, reinforcing its commitment to nation-building by providing funds for government priority programs.
The latest remittance represents 75% of PAGCOR’s net income for 2024, higher than the 50% remittance mandated under Republic Act No. 7656 or the Dividends Law.
“Our 75% dividends remittance is in line with Finance Secretary Ralph Recto’s directive to government-owned and controlled corporations (GOCCs) to advance an additional 25% dividend to support government spending,” said PAGCOR Chairman and CEO Alejandro H. Tengco.
Mr. Tengco turned over the dividends check to Deputy National Treasurer Eduardo Anthony Mariño at the PAGCOR Corporate Office in Pasay City.
Of the remitted amount, Php8.45 billion represents the mandatory 50% government share of PAGCOR’s net income while the remaining Php4.22 billion represents the 25% advance that may be applied to future obligations.
Mr. Mariño said PAGCOR’s contribution will help strengthen the government’s capacity to fund critical programs in infrastructure, healthcare, education and social services.
“This substantial dividend contribution will go a long way in boosting our fiscal resources and furthering the administration’s development agenda,” Mariño said.
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