The Manila International Airport Authority hits its record-breaking fiscal performance in 2018 with a remittance of P3.42 billion in dividends to the government.
The latest accomplishment, according to airport general manager Eddie Monreal, was the highest in MIAA history, exceeding by more than 50 percent the 2017 remittance which was then the highest recorded dividend payment in the last two decades.
The MIAA is tasked to remit at least 50 percent of its annual net income to the national government after it was granted fiscal autonomy during the term of the late former President Corazon Aquino.
Monreal said since 2016, the MIAA dividend payments have significantly increased.
On top of the P3.42 billion dividends, the MIAA likewise remitted P5.4 billion in corporate income taxes and government share in its gross revenues and departing passengers for 2018.