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Manila Bulletin devider Philippines devider Pag-IBIG records highest dividend rates since pandemic

Pag-IBIG records highest dividend rates since pandemic

Published Mar 28, 2023 08:15 am
Pag-IBIG Fund has achieved its highest dividend rates since the Covid-19 pandemic, with its Regular Savings dividend rate for 2022 reaching 6.53 percent and its Modified Pag-IBIG 2 (MP2) Savings rate increasing to 7.03 percent per annum. Pag-IBIG Fund Chairperson and Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino L. Acuzar said Pag-IBIG  posted its best performing year in 2022 as the agency's net income hit a record high P44.50 billion, a 28 percent increase from the P34.69 billion the year prior. The dividend rates, according to Acuzar, are the result of the agency's record-high net income coupled with the highest dividend payout ratio approved by the Pag-IBIG Board. Acuzar said that the Pag-IBIG Board approved a 97 percent payout ratio, resulting in a dividend sum of P42.70 billion — the largest in the agency's history — despite the fact that the agency is only allowed to distribute at least 70 percent of its yearly net revenue to members as dividends. "We at Pag-IBIG do all that we can to keep the returns on our members savings high, while ensuring the Fund's sustainability and stability,” he said in his Pag-IBIG Chairman’s Report for 2022 at ghe SMX Convention Center in Pasay on Tuesday, March 28. “With Pag-IBIG Fund capably led by its CEO 'Manang' Malen Acosta having its best performing year in 2022, we were able to declare the highest amount of diordends for our members' savings in our 42-year history.” The Pag-IBIG chairman vowed that the agency will continue to be reliable in order for its members to “pursue a better and more secure future.” "Truly, when Pag-IBIG Fund performs well, it is our members who beneft the most.” For her part, Acosta said the Pag-IBIG remained “productive and faithful” in improving lives of workers that’s why it was able to attain the highest dividend rates. “I have been a PAG-ibig employee for more than 41 years. I was employed almost a year after its creation… And I am proud to say that in all these years, PAG-ibig has remained productive, and faithful to the vision of improving the lives of Filipino workers,” the PAG-ibig CEO said.  “I am proud to say that 2022 is our best year yet,” added. President Ferdinand “Bongbong” R. Marcos Jr. graced the Pag-IBIG event and lauded the agency for achieving the highest dividend rates since the Covid-19 pandemic.
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