The Philippine Ports Authority (PPA) has once again surpassed its previous record in dividend remittance, with its board of directors approving a historic P5.20 billion contribution to the national treasury for 2024.
This figure represents 54 percent of PPA’s net earnings based on its Calendar Year 2024 Unaudited Financial Statements, exceeding the P5.06 billion dividend in 2023 and the P4.4 billion in 2022—marking another significant milestone in the agency’s fiscal performance.
Under Republic Act 7656, also known as the Dividends Law, government-owned and controlled corporations (GOCCs) are mandated to declare and remit at least 50 percent of their annual net earnings as cash dividends to the national government.
PPA remains one of the country’s top-performing GOCCs. In 2023, it ranked as the fourth highest dividend contributor, surpassing key state agencies such as the Philippine Amusement and Gaming Corporation (PAGCOR), Manila International Airport Authority (MIAA), Subic Bay Metropolitan Authority (SBMA), and the Philippine Charity Sweepstakes Office (PCSO). Its strong financial performance was recognized during GOCC Day at the Philippine International Convention Center (PICC) in May 2024, where President Ferdinand Marcos Jr. commended the agency’s achievements.
Meanwhile, PPA’s 2024 financial performance report shows that the agency generated a total revenue of P27.64 billion for the year, reflecting an 8.61 percent increase from the P25.45 billion recorded in 2023.
“This growth is attributed to enhanced revenue collection, strategic income management, and the development of new business opportunities,” PPA said.
“The expansion was further bolstered by a thriving external trade sector, with data from the Philippine Statistics Authority indicating that external trade in goods reached $15.45 billion in 2024,” it added.
For December 2024 alone, PPA recorded a revenue of P2.67 billion, marking a 19.49 percent increase compared to the same period in the previous year.
PPA General Manager Jay Santiago emphasized that with the continued upward trajectory of revenue in recent years, the agency has sufficient funds to complete ongoing seaport projects and initiate new developments that will boost tourism, trade logistics, and economic growth.
In 2025, PPA is set to complete several major infrastructure projects, including the Salomague Port Expansion Project in Cabugao, Ilocos Sur; the San Andres Port Improvement and Expansion Project in Catanduanes; the Banago Port Improvement Project in Negros Occidental; and the Balingoan Port Expansion Project in Cagayan de Oro.
Additionally, cruise ship port projects are in the pipeline for Coron, Palawan; Buruanga, Aklan; and Mambajao, Camiguin, enhancing the country’s capability to accommodate growing international cruise ships demand.