3 DOTr agencies pay dividends

Published August 16, 2018, 12:00 AM

by manilabulletin_admin

By Emmie V. Abadilla


Department of Transportation (DOTr) logo (Courtesy of dotc.gov.ph)
Department of Transportation (DOTr) logo (Courtesy of dotc.gov.ph)

A triumvirate of state-owned agencies under the Department of Transportation (DOTr) made it among the Government-Owned and -Controlled Corporations (GOCCs) with the highest amount of dividends remitted to the country’s coffers in 2017.

The Civil Aviation Authority of the Philippines (CAAP) topped the list while Philippine Ports Authority (PPA) ranked as 2nd and the Manila International Airports Authority (MIAA) ranked 7th.

Last year, the total amount of dividends from the 125 GOCCs in the country reached P30.46 billion.
CAAP remitted P6.2 billion in dividends. CAAP went from years of non-remittance from 2011 to 2015 to being the top contributing GOCC.

The remittance represented 68% of CAAP’s net income for CY2017 amounting to P3.22 billion, including P3 billion worth of unpaid dividend arrears.

The Philippine Ports Authority (PPA), for its part, remitted P3 billion worth of dividends.
MIAA remitted P2.01 billion to the national coffers.