PPA General Manager Jay Daniel Santiago

The Philippine Ports Authority (PPA) will be turning over more than P5.2 billion in cash dividends to the national government, the biggest remittance so far following what it described as a sustained revenue growth in its operation last year.

PPA General Manager Jay Daniel Santiago said the amount to be turned over to the national treasury showed a sustained increase in revenues—from P4.4 billion in 2022 and P5.06 billion in 2023.

The PPA actually generated P27.64 billion in revenue for 2024 and the P5.2 billion that will be turned over to the national treasury represents 54 percent of the net earnings of the agency last year.

Under Republic Act 7656, or the Dividends Law, government-owned and controlled corporations (GOCCs) are mandated to declare and remit at least 50 percent of their annual net earnings as cash dividends to the national government.

The increase in the annual dividend remittance made the PPA a consistent top-performing GOCC in the country, beating even key state agencies like the Philippine Amusement and Gaming Corporation (Pagcor), Manila International Airport Authority (MIAA), Subic Bay Metropolitan Authority (SBMA), and the Philippine Charity Sweepstakes Office (PCSO).

President Marcos earlier recognized the PPA’s strong financial performance during GOCC Day at the Philippine International Convention Center (PICC) in May 2024.

For December 2024 alone, PPA recorded a revenue of P2.67 billion, marking a 19.49 percent increase compared to the same period in the previous year.

“This growth is attributed to enhanced revenue collection, strategic income management, and the development of new business opportunities,” said Santiago.

He said the expansion was further bolstered by a thriving external trade sector, with data from the Philippine Statistics Authority indicating that external trade in goods reached $15.45 billion in 2024.

What this means

Santiago explained that the sustained increase in revenues in the past years means the PPA already collected sufficient funds to complete ongoing seaport projects and initiate new developments that will boost tourism, trade logistics, and economic growth.

For seaport projects, he said they would be able to complete several major infrastructure projects this year.

These include the Salomague Port Expansion Project in Cabugao, Ilocos Sur; the San Andres Port Improvement and Expansion Project in Catanduanes; the Banago Port Improvement Project in Negros Occidental; and the Balingoan Port Expansion Project in Cagayan de Oro.

“Additionally, cruise ship port projects are in the pipeline for Coron, Palawan; Buruanga, Aklan; and Mambajao, Camiguin, enhancing the country’s capability to accommodate growing international cruise ships demand,” he said.

Efficient operation

The PPA is also exerting all measures to sustain the efficiency of its operations which served as one of the key factors in improved revenues.

PPA data revealed that in 2024, a total container traffic of 7.82 million twenty-foot equivalent units (TEUs), while cargo throughput reached 289.52 million metric tons (MTs).

These figures, according to Santiago, reflect an increase from the 7.51 million TEU container traffic and 272.46 million MT cargo throughput recorded in 2023.

He said ship calls also rose significantly, reaching 621,807 domestic and foreign vessel calls, up from 562,888 in 2023.

Passenger traffic for 2024, on the other hand, stood at 78,742,521, including 134,742 cruise ship passengers, underscoring the growing demand for maritime transport and tourism-related activities.