The Philippine Ports Authority (PPA) maintains its ranking among the top 5 government-owned-and-controlled corporations (GOCCs) with the highest dividend remittance to the National Treasury.
PPA said it remitted PHP5.20 billion to the national government for 2024, ranking 4th among dividends remitted by the GOCCs.
PPA surpassed the other dividend contributors like the Philippine National Oil Company with PHP2.42 billion, the Bases and Conversion and Development Authority (PHP2.03 billion); Philippine Charity Sweepstakes Office (PHP1.77 billion); Subic Bay Metropolitan Authority (PHP1.46 billion); and Maharlika Investment Corporation (PHP1.45 billion).
The PHP5.20 billion dividend remitted for 2024 builds on the agency’s track record, following its P5.06 billion in 2023; PHP4.4 billion in 2022; PHP4.08 in 2021; PHP3.76 billion in 2020; PHP5.05 billion in 2019; PHP3.56 billion in 2018; PHP3.10 billion in 2017; and PHP1.96 billion in 2016.
This performance not only highlights PPA’s financial strength but also reflects its unwavering support for the fiscal consolidation agenda of the administration of President Ferdinand Marcos Jr.
PPA General Manager Jay Santiago expressed gratitude to the President for his sound fiscal leadership which has allowed GOCCs like PPA to operate with greater efficiency and purpose.
The agency’s continued financial growth is supported by its expanding port infrastructure and operational efficiency. In 2024, the PPA generated a total revenue of PHP27.64 billion, reflecting an 8.61 percent increase from the PHP25.45 billion recorded in 2023.
Based on data, PPA’s net income rose to PHP3.88 billion from January to March, compared to PHP1.73 billion during the same period in 2024. PPA’s revenue also increased by 24 percent, driven by its service and business income from port operations and maintenance. The agency aims to post even higher earnings in 2025.
“We are proud of our role in supporting the national government’s fiscal goals, and we are determined to sustain this momentum. We will continue working toward even greater milestones,” PPA General Manager Jay Santiago said.
The Department of Finance (DOF) recently announced that total dividend collections from around 50 GOCCs have already surpassed PHP76 billion as of May 15 this year, with PPA ranking again at top four spot. The top GOCC contributors were and Bank of the Philippines (HPP26 billion), the Philippine Amusement and Gaming Corp. (PHP12.6 billion), the Philippine Deposit Insurance Corp. (PHP10.13 billion), the Philippine Ports Authority (PHP5.20 billion), and the Manila International Airport Authority (PHP3.32 billion).
Under Republic Act No. 7656, GOCCs are required to remit at least 50 percent of their net earnings to the national government.
