PAGCOR remits PHP12.67B, exceeds 50% mandate

The Philippine Amusement and Gaming Corp. (PAGCOR) announced on Wednesday that it has remitted PHP12.67 billion in dividends to the state coffers.

This amount represents 75% of PAGCOR's net income for 2024, surpassing the mandated 50% dividend remittance under Republic Act 7656 and aligning with Finance Secretary Ralph Recto's directive for government-owned corporations (GOCCs) to advance an additional 25% dividend.

PAGCOR chairman and CEO Alejandro Tengco turned over the dividends check to Deputy National Treasurer Eduardo Mariño at the PAGCOR Corporate Office in Pasay City.

Deputy National Treasurer Eduardo Mariño highlighted that this contribution will bolster government spending on infrastructure, healthcare, education, and social services, supporting critical programs.

Mr. Tengco emphasized that the 75% dividend remittance is in line with Finance Secretary Ralph Recto's directive to support government initiatives.