More GOCCs eyed for P1 billion dividend club
The Philippine Department of Finance aims to increase the number of state-run firms contributing at least P1 billion in dividends to the national treasury. While dividend remittances are expected to hit record highs, government subsidies to these corporations have decreased significantly.
Why it matters
The financial performance of Government-Owned and Controlled Corporations (GOCCs) is a key indicator of fiscal health and government efficiency in the Philippines.
MANILA, Philippines - Finance Secretary Frederick Go hopes more state-run firms will break into the P1-billion dividend mark next year, with remittances expected to hit a record P147.15 billion by year-end.
"We look forward to more GOCCs joining the Billionaires' Club, (expecting to rise to) 20 next year," Go told reporters, referring to firms able to remit at least P1 billion to the national coffers.
In 2026, 15 GOCCs made the cut, led by the Bangko Sentral ng Pilipinas, Land Bank of the Philippines, Philippine Deposit Insurance Corp., Manila International Airport Authority, Philippine Amusement and Gaming Corp., Philippine Ports Authority, Power Sector Assets and Liabilities Management Corp. and Bases Conversion and Development Authority.
Also in the club were Clark Development Corp., Philippine Guarantee Corp., Philippine Charity Sweepstakes Office, Philippine Economic Zone Authority, Maharlika Investment Corp., Philippine National Oil Company and the Civil Aviation Authority of the Philippines.
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