Land Bank of the Philippines (Landbank) declared a record P33.5 billion in dividends to the national government, its highest-ever single dividend yield, with millions of Filipinos expected to benefit.
The remittance aligns with President Ferdinand Marcos Jr.’s directive for fiscal discipline, aiming to maximize non-tax revenues to fund priority programs without imposing new taxes, Department of Finance Secretary Ralph Recto said.
Under Republic Act No. 7656, or the Dividend Law, Government Owned and Controlled Corporations (GOCCs) are required to remit at least 50 percent of their net earnings from the preceding year as dividends. The Department of Finance (DOF) asked GOCCs to increase this share to 75 percent to maximize non-tax revenue.
“This dividend remittance to the National Treasury is living proof that when a government financial institution serves the people well, the nation reaps greater rewards,” said Recto.
He also thanked the DOF’s Corporate Sector and Strategic Infrastructure Group (CSSIG) for overseeing GOCCs.
In 2024, Landbank remitted P32.12 billion in dividends, the highest among all GOCCs. This year’s P33.53 billion declaration solidifies Landbank’s position as the top dividend contributor for the second consecutive year.
“Our continued solid performance affirms Landbank’s role as a reliable partner of the National Government in its infrastructure push, its support to the agriculture, education and healthcare sectors,” said Landbank president and chief executive Lynette Ortiz.
“This is Landbank’s value to the Filipino people: clear in its impact and rooted in its mission,” she said.
Landbank reported a net income of P13.29 billion for the first quarter of 2025, an 11-percent increase from P11.98 billion year-on-year and 32-percent above its first-quarter target.
The bank’s total assets grew 5 percent year-on-year to P3.43 trillion pesos from P3.27 trillion, driven by expanded loan and investment portfolios.