State-run Philippine Amusement and Gaming Corp. once again made history when it remitted the highest cash dividends to the government during the 2019 Government-Owned and Controlled Corporations Day on July 11, 2019.
Pagcor turned over P16.17 billion in cash dividends, making it a consistent top dividend contributor to government coffers.
The amount, Pagcor’s highest one-time cash dividends remittance, almost matched the state-run gaming agency’s P17.16 billion in cumulative cash dividends from 2011 to 2017.
Pagcor chairman and chief executive Andrea Domingo said the agency every year remits cash dividends to national coffers as required by the law, which requires government-owned and controlled corporations to remit at least 50 percent of their annual net earnings as cash, stock or property dividends to the government.
“Since 2011, Pagcor has been remitting cash dividends to the government. But it was in 2018 when we posted the highest amount,” Domingo said.