PAGCOR remits P12.67-B dividends to state coffers

The Philippine Amusement and Gaming Corporation (PAGCOR) has turned over P12.67 billion in dividends to the National Treasury, representing 75 percent of its net income for 2024.

The amount significantly exceeds the 50 percent remittance requirement under Republic Act 7656, or the Dividends Law.

“Our 75 percent dividends remittance is in line with Finance Secretary Ralph Recto’s directive to government-owned and controlled corporations (GOCCs) to advance an additional 25 percent dividend to support government spending,” PAGCOR Chairman and Chief Executive Officer Alejandro Tengco said.

Of the remitted total, P8.45 billion represents the mandatory 50 percent share of PAGCOR’s net earnings, while P4.22 billion constitutes a voluntary advance, which may be applied to future obligations.

Tengco personally handed over the check to Deputy National Treasurer Eduardo Anthony Mariño during a ceremony at PAGCOR’s Corporate Office in Pasay City.

“This substantial dividend contribution will go a long way in boosting our fiscal resources and furthering the administration’s development agenda,” Mariño said.

The remittance underscores the growing contribution of GOCCs in supporting the government’s fiscal sustainability and increasing public expenditure requirements.