DOTr agencies remit over P10B in advance dividends

Updated Fri, March 27, 2020 at 6:35 PM Published Wed, March 25, 2020 at 11:49 AM

Three Department of Transportation (DOTr) agencies, namely the Philippine Ports Authority (PPA), Manila International Airport Authority (MIAA), and Civil Aviation Authority of the Philippines (CAAP), have made an advance dividend payment exceeding P10 billion.

The PPA remitted over P4 billion, while CAAP and MIAA each contributed P3 billion.

These funds are intended to support the government's initiatives against the COVID-19 outbreak and other vital projects.

Transportation Secretary Arthur Tugade emphasized the urgency of returning the people's money during these challenging times.

This early remittance is in line with the mandate for Government Owned and Controlled Corporations (GOCCs) to remit their minimum dividends to the National Treasury by May 15 each year.

Additionally, MIAA and CAAP were instructed to suspend and defer rental collections at NAIA for the current and following months, respectively.

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COVID-19 Department of Transportation NAIA CAAP Manila International Airport Authority Philippine Ports Authority

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