The Philippine Ports Authority (PPA) reaffirms its position as one of the country’s top-performing government-owned-and-controlled corporations (GOCCs), with a dividend remittance of P5.20 billion to the National Treasury. The Department of Finance (DOF) recently announced that total dividend collections from around 50 GOCCs have already surpassed P76 billion as of May 15 this year, with PPA ranking again at top four spot. The top GOCC contributors were Land Bank of the Philippines (P26 billion), the Philippine Amusement and Gaming Corp. (P12.6 billion), the Philippine Deposit Insurance Corp. (P10.13 billion), the Philippine Ports Authority (P5.20 billion), and the Manila International Airport Authority (P3.32 billion), PPA said.
PPA surpassed the other dividend contributors like the Philippine National Oil Company with P2.42 billion, the Bases and Conversion and Development Authority (P2.03 billion); Philippine Charity Sweepstakes Office (P1.77 billion); Subic Bay Metropolitan Authority (P1.46 billion); and Maharlika Investment Corporation (P1.45 billion).
The P5.20 billion dividend remitted for 2024 builds on the agency’s track record, following its P5.06 billion in 2023; P4.4 billion in 2022; P4.08 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.
PPA General Manager Jay Santiago expressed gratitude to the President for his sound fiscal leadership which has allowed GOCCs like PPA to operate with greater efficiency and 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,” GM Santiago said.
Under Republic Act No. 7656, GOCCs are required to remit at least 50% of their net earnings to the National Government.
The agency’s continued financial growth is supported by its expanding port infrastructure and operational efficiency. In 2024, the PPA generated a total revenue of P27.64 billion, reflecting an 8.61% increase from the P25.45 billion recorded 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.