For consistently replenishing government coffers with billions in dividends, the Philippine Ports Authority has retained its position among the top five government-owned and controlled corporations in terms of remittance performance.
Under the leadership of General Manager Atty. Jay Daniel Santiago, the PPA remitted P5.20 billion to the National Treasury, joining the ranks of top-performing GOCCs including the Bangko Sentral ng Pilipinas (P26 billion), the Philippine Amusement and Gaming Corporation (P12.6 billion), the Philippine Deposit Insurance Corporation (P10.13 billion), and the Manila International Airport Authority (P3.32 billion), according to the Department of Finance.
PPA’s contribution is out of the P76 billion dividend collections from around 50 GOCCs as of 15 May this year.
The agency also outperformed other contributors such as the Philippine National Oil Company (P2.42 billion), Bases Conversion and Development Authority (P2.03 billion), Philippine Charity Sweepstakes Office (P1.77 billion), Subic Bay Metropolitan Authority (P1.46 billion), and the Maharlika Investment Corporation (P1.45 billion).
The P5.20 billion remitted for 2024 builds on PPA’s consistent track record in dividend contributions: P5.06 billion in 2023, P4.4 billion in 2022, P4.08 billion in 2021, P3.76 billion in 2020, P5.05 billion in 2019, P3.56 billion in 2018, P3.10 billion in 2017, and P1.96 billion in 2016.
“This performance not only highlights PPA’s financial strength but also reflects its unwavering support for the fiscal consolidation agenda of the administration of President Ferdinand Marcos Jr,” said PPA GM Santiago.
He also credited the President’s “sound fiscal leadership” for enabling GOCCs like PPA to operate more efficiently and with purpose.
“We thank President Ferdinand Marcos Jr. for his strategic economic guidance and the administration’s commitment to strengthening public institutions. These financial decisions have empowered us to deliver consistent results and contribute significantly to national development,” Santiago added.
Under Republic Act No. 7656, GOCCs are mandated to remit at least 50 percent of their net earnings to the National Government.
PPA’s continued financial growth has been driven by expanding port infrastructure and increased operational efficiency. In 2024, the agency posted total revenues of P27.64 billion — an 8.61 percent increase from P25.45 billion in 2023.
The agency aims to post even higher earnings in 2025. Based on data, PPA’s net income rose to P3.88 billion from January to March, compared to P1.73 billion during the same period in 2024. PPA’s revenue also increased by 24 percent, driven by its service and business income from port operations and maintenance.
“We are proud of our role in supporting the national government’s fiscal goals, and we are determined to sustain this momentum. We will continue working toward even greater milestones,” GM Santiago added.