In a strong show of support for national development, PAGCOR chairman and CEO Alejandro H. Tengco (right) presents a facsimile check to Deputy National Treasurer Eduardo Anthony Mariño — representing a massive P12.67 billion dividend contribution for 2024. This symbolic gesture underscores PAGCOR’s continued commitment to fueling the country’s growth and progress.
In a powerful show of support for the country’s development goals, the Philippine Amusement and Gaming Corporation (PAGCOR) remitted a staggering P12.67 billion in dividends to the National Treasury.
This latest contribution represents a generous 75% of PAGCOR’s net income for 2024—a significant leap from the 50% remittance required under Republic Act No. 7656, also known as the Dividends Law.
“Our decision to remit 75% is aligned with the directive of Finance Secretary Ralph Recto, who urged government-owned and controlled corporations (GOCCs) to contribute an additional 25% to bolster national spending,” said PAGCOR chairman and CEO Alejandro H. Tengco.
Tengco personally handed over the dividend check to Deputy National Treasurer Eduardo Anthony Mariño during a ceremonial turnover at PAGCOR’s Corporate Office in Pasay City.
Breaking down the total amount:
- P8.45 billion accounts for the mandated 50% share of PAGCOR’s net income.
- P4.22 billion is an advance remittance, which can be applied to future obligations.
Deputy Treasurer Mariño welcomed the substantial contribution, emphasizing its impact on the country’s key initiatives.
“This significant infusion of funds will enhance our ability to support vital government programs in infrastructure, healthcare, education, and social services,” Mariño said. “It’s a strong push toward achieving our national development agenda.”
With this latest remittance, PAGCOR continues to play a vital role in strengthening the government’s fiscal position and advancing inclusive growth for all Filipinos.