Remittance of dividends by government-owned and -controlled corporations this year is expected to surpass the full-year collections in 2018, judging from the latest data as of May 2019, the Department of Finance said Wednesday.
Data show that dividends remitted by GOCCs as of mid-May this year had reached P38.9 billion, or just 3 percent shy of the P40.17 billion in actual collections for the entire 2018.
Finance Secretary Carlos Dominguez III said given the robust trend in the first five months of the year, the 2019 dividend collections would easily surpass the previous year’s figures, setting the stage for a new unprecedented amount of dividend contributions from GOCCs.
The P40.17 billion collected in 2018 was the highest amount ever generated so far for an entire year since the law requiring state firms to hand over 50 percent of their annual net earnings to the national government was enacted in 1994.
