The Philippine Ports Authority (PPA) Board has approved a record PhP5.2-billion dividend remittance to the national treasury for 2024, exceeding the dividend contribution in the past two years.
In a statement, the agency said that its Board approved the exact remittance of P5,203,203,998 on March 3, 2025. This figure represents 54% of PPA’s net earnings based on its Calendar Year 2024 Unaudited Financial Statements, exceeding the P5.06 billion dividend in 2023 and the P4.4 billion in 2022—marking another significant milestone in the agency’s fiscal performance.
Under Republic Act 7656, also known as the Dividends Law, government-owned and controlled corporations (GOCCs) are mandated to declare and remit at least 50% of their annual net earnings as cash dividends to the national government.
PPA remains one of the country’s top-performing GOCCs. In 2023, it ranked as the fourth highest dividend contributor, surpassing key state agencies such as the Philippine Amusement and Gaming Corporation (PAGCOR), Manila International Airport Authority (MIAA), Subic Bay Metropolitan Authority (SBMA), and the Philippine Charity Sweepstakes Office (PCSO). Its strong financial performance was recognized during GOCC Day at the Philippine International Convention Center (PICC) in May 2024, where President Ferdinand Marcos Jr. commended the agency’s achievements.
Meanwhile, PPA’s 2024 Financial Performance report showed that the agency generated a total revenue of P27.64 billion for the year, reflecting an 8.61% increase from the P25.45 billion recorded in 2023. This growth is attributed to enhanced revenue collection, strategic income management, and the development of new business opportunities. 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 USD 15.45 billion in 2024.
For December 2024 alone, PPA recorded a revenue of P2.67 billion, marking a 19.49% increase compared to the same period in the previous year.
PPA General Manager Jay Santiago emphasized that with the continued upward trajectory of revenue in recent years, the agency has sufficient funds to complete ongoing seaport projects and initiate new developments that will boost tourism, trade logistics, and economic growth.
