DOF Cites PAGCOR for ₱12-B Dividend Remittance to Treasury

The Philippine Amusement and Gaming Corporation (PAGCOR) received a Certificate of Recognition from the Department of Finance (DOF) for its significant contributions to the National Government, specifically through ₱12.7 billion in dividends remitted to the National Treasury in 2024.

PAGCOR had the third-highest dividend remittance in 2024, following the Land Bank of the Philippines and the Bangko Sentral ng Pilipinas. (Image: PAGCOR)

The state gaming firm received the award during the 2025 Government-Owned or Controlled Corporations (GOCCs) Day celebration held at Malacañan Palace on September 16, 2025.

PAGCOR had the third-highest dividend remittance in 2024, following the Land Bank of the Philippines (₱33.5 billion) and the Bangko Sentral ng Pilipinas (₱18.9 billion).

Of PAGCOR’s ₱12.7 billion in dividends, ₱8.45 billion represents the mandatory 50 percent government share of the corporation’s net income, while the remaining ₱4.22 billion represents a 25 percent advance that may be applied to future obligations.

Under Republic Act No. 7656, or the Dividends Law, GOCCs are required to remit at least 50 percent of their net earnings from the previous year as dividends to the national government.

However, the DOF has urged GOCCs to increase their remittances by 25 percent to maximize non-tax revenues.

“This award is a meaningful affirmation of PAGCOR’s steadfast commitment to nation-building and fiscal responsibility,” said PAGCOR Chairman and CEO Alejandro H. Tengco. “Each peso we generate and remit to the National Treasury reflects the dedication of our workforce and the trust placed in us by the Filipino people.”

“As a GOCC, we take pride in being a reliable partner of the Department of Finance in strengthening our country’s fiscal position and supporting programs that uplift lives and sustain growth,” Mr. Tengco added.

Meanwhile, Finance Secretary Ralph Recto lauded the contributions of GOCCs.

“Because of your cooperation, the government continues to improve public services without asking ordinary Filipinos to carry the burden of new taxes,” he said.

“When we set a higher bar for dividend remittances, you not only responded — many of you even exceeded expectations. And you did so not merely because the law required you to, but because you remain true to the very reason you exist: to serve the Filipino people,” Recto added.