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Manila Bulletin devider Business devider Banking & Finance devider GOCC dividends seen dropping 16% in 2025

GOCC dividends seen dropping 16% in 2025

Published Sep 16, 2025 01:47 pm

At A Glance

  • While government-owned and controlled corporations (GOCCs) remitted a total of ₱109 billion as of the second week of September, the Department of Finance (DOF) projected full-year remittances to decline by 15.5 percent from the 2024 dividends of ₱138.5 billion.
While government-owned and/or -controlled corporations (GOCCs) remitted dividends amounting to ₱109 billion as of the second week of September, the Department of Finance (DOF) projected full-year remittances to decline by 15.5 percent from the 2024 total of ₱138.5 billion.
In a statement on Tuesday, Sept. 16, the DOF said expected dividends from state firms by the end of 2025 are around ₱117 billion. With just over a quarter left in 2025, GOCC dividends are now only ₱8-billion short of the forecast.
Contributing to the end-September dividends were 53 GOCCs mandated by the national government (NG) to remit 75 percent of their net earnings.
GOCC dividends are a major source of non-tax revenues for the NG to fund the Marcos Jr. administration’s priority programs without imposing new taxes on the people.
Under Republic Act (RA) No. 7656 or the Dividend Law, GOCCs are required to remit at least 50 percent of their net earnings from the preceding year as dividends to the NG. The DOF has requested GOCCs to increase this share to 75 percent to maximize non-tax revenues.
According to the DOF, government financial institution (GFI) Land Bank of the Philippines (Landbank) was the top contributor during the period, as its dividends worth ₱33.5 billion already surpassed its 2024 remittance of ₱32.1 billion, data from the Bureau of the Treasury (BTr) showed.
Trailing Landbank was the Bangko Sentral ng Pilipinas (BSP), contributing ₱18.9 billion, only equivalent to 35.5 percent of the central bank’s dividends in 2024 worth ₱53.2 billion.
Meanwhile, Philippine Amusement and Gaming Corp. (PAGCOR) added ₱12.7 billion, nearly three times last year’s ₱4.6 billion. Also, Philippine Deposit Insurance Corp. (PDIC) contributed ₱10.1 billion, already 94.6 percent of last year’s ₱10.7 billion.
Ranking fifth was Power Sector Assets and Liabilities Management Corp. (PSALM), with ₱9 billion.
Rounding out the sixth- to 10th-biggest contributors were Bases Conversion and Development Authority (BCDA), ₱5.3 billion; Philippine Ports Authority (PPA), ₱5.2 billion; Manila International Airport Authority (MIAA), ₱3.3 billion; Clark Development Corp. (CDC), ₱2.5 billion; and Philippine National Oil Co. (PNOC), ₱2.4 billion.
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