The Department of Finance (DoF) expects dividends from government-owned and controlled corporations (GOCCs) this year to reach over P100 billion, which is higher than the collection in 2024.

The DoF reported on Wednesday that GOCCs had already remitted to the national government dividends worth over P76 billion as of 15 May.

Last year, the DoF said GOCCs transferred funds amounting to P95.9 billion as of November 2024 into the national coffers. 

“This shows that our GOCCs are continuously operating efficiently and generating substantial profits, enabling them to contribute more to the National Treasury,” Finance Secretary Ralph Recto said.

The law requires GOCCs to remit 75 percent of their annual profits to the national government, contributing to the country’s non-tax revenues. From 50 GOCCs, the DoF said 13 of them shared over P1 billion each.

“These non-tax revenues allow us to support the government’s expenditure program for the year, enabling the DoF to stay on track with its fiscal program and mobilize funds for our priority programs and projects,” Recto said.

The GOCCs which contributed the highest dividends included the Landbank of the Philippines, the Philippine Deposit Insurance Corporation, the Philippine Port Authority, and the Philippine Amusement and Gaming Corporation (PAGCOR).

Electronic games revenues up

Amid Filipinos’ high mobile phone usage, PAGCOR recently reported that revenues from electronic games and E-Bingo surged to P14.32 billion, accounting for 56 percent of its total revenues in the first quarter.

The other big contributors were the Manila International Airport Authority, the Clark Development Corporation, the Philippine National Oil Company, the Bases Conversion and Development Authority, and the Philippine Charity Sweepstakes Office.

Most of the dividends also came from the Subic Bay Metropolitan Authority, the Maharlika Investment Corporation, the Philippine Economic Zone Authority, and the Philippine Guarantee Corporation.