Finance Secretary Ralph Recto said he increased the dividend rate remittance of government-owned and controlled corporations from their net earnings to 75 percent from the minimum of 50 percent.MANILA, Philippines — The Department of Finance has increased the dividends to be collected from state-run firms to up to 75 percent of their earnings as the government looks for more revenues for the country’s development needs.
Based on the revised implementing rules and regulations of the law in 2016, the DOF may request GOCCs to remit above the 50 percent minimum dividend rate in the event that GOCCs have excess cash or windfall earnings.Increasing the dividend rate aims to promote fiscal discipline and improve revenue generation efforts of the government.
Recto is also intensifying the push for the privatization of government assets, which will lead to better operational efficiency and higher investment returns. Investors will be on the lookout for positive catalysts this week in a bid to sustain the stock market’s climb last...
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