The Philippine Ports Authority (PPA) ranked fourth among the government-owned and -controlled corporations (GOCCs) with top dividend contributors to the national government’s coffers in 2023.
Citing data from the Department of Finance (DOF), PPA General Manager Jay Daniel Santiago said the agency contributed a total of P4.4 billion.
“This is a clear manifestation that honest and transparent public service goes a long way. We are here to bring results and effective outcomes, we seldom talk but the actions that we do speak louder. We are very serious in maintaining the PPA's strength and stability,” said Santiago.
Topping the list of top contributors is Bangko Sentral ng Pilipinas with P55.61 billion, followed by the Philippine Deposit Insurance Corporation with P14.05 billion and the Philippine Amusement and Gaming Corporation with P6.96 billion.
The PPA’s dividends surpassed the other contributing GOCCs like the Philippine National Oil Company with P1.68 billion, the Subic Bay Metropolitan Authority with P1.52 billion, the National Transmission Corporation with P1.48 billion, the Philippine Reclamation Authority with P1.35 billion, and the Clark Development Corporation with P1.21 billion.
Santiago explained that the increasing PPA dividend hikes can has been seen as a trend since 2016 with P.96 billion; P3.10B in 2017; P3.52 ibillionn P2018 and in 2019, the agency highest amount ever remitted by the agency with P5.05 billion
The Covid-19 pandemic year 2020 also posted a high dividend with P3.76 billion; a rebound of P4.08 billion in 2021; and the latest 4.44 billion in 2022, cementing PPA as one of the top-tier GOCCs in terms of dividend remittances.
In 2023 alone, the PPA recorded a total of 32.70 percent increase in total revenue compared to 2022.
Projects
Under Republic Act No. 7656 “An Act Requiring Government Owned or Controlled Corporations to Declare Dividends under Certain Conditions to the National Government, and for other purposes” or known as Dividend Law, the PPA is required to declare and remit at least 50 percent of its net earnings, as cash, stock and/or Property Dividends to the National Government for national development and building of Port Terminal Management Regulatory Framework (PTMRF).
A total of 81 projects were also added to the physical and infrastructure development performance of PPA wherein 39 projects are in Luzon, 23 in Visayas, and 19 Mindanao.
The PPA also bid out 9 ports namely; Opol in Misamis Oriental; Jagna, Tupal, Ubay, Talibon, Getafe in Bohol; and Balbagon Benoni, and Guinsilban in Camiguin. This brings a total of 28 ports successfully bid out to private sector since the implementation
2024 programs
For 2024, Santiago said programs and projects have been lined up as early as January, including the 79 Infrastructure projects nationwide and the completion of 29 infrastructure projects.
“Green ports initiatives will also be prioritized to help mitigate the effects of climate change while maintaining sustainable and resilient port development programs,” said Santiago.
"This 2024 our goal is at least P5 billion in dividends, we are continuously making history in PPA's dividend remittance