PSALM Remits Record-High ₱8.96B Dividends To National Treasury

The Power Sector Assets and Liabilities Management (PSALM) Corporation has remitted a record-high ₱8.96 billion in dividends to the National Treasury, reflecting its robust financial performance for fiscal year 2024.

The 2024 dividend comprises PSALM’s net taxable income, gross income subject to final withholding tax, and adjusted income exempt from taxes. I Photo: PSALM Corporation Facebook

PSALM President and CEO Dennis Edward Dela Serna officially handed over the remittance at the Department of Finance (DOF) office in Manila on June 30, 2025. The amount—₱8,958,516,307—was received by Finance Secretary Ralph Recto.

“This substantial remittance underscores PSALM’s unwavering commitment to fiscal responsibility and is expected to significantly support the government’s nation-building efforts,” said Dela Serna.

The PSALM Board approved the dividend remittance on June 20, 2025, authorizing the President and CEO, or a designated representative, to execute all necessary documentation.

The 2024 dividend comprises PSALM’s net taxable income, gross income subject to final withholding tax, and adjusted income exempt from taxes.

As assessed by the DOF in a letter dated April 7, 2025, this represents a 75% dividend rate—well above the 50% minimum required under Republic Act No. 7656.

“This all-time high dividend from PSALM will be reinvested into programs that directly uplift the lives of the Filipino people,” Recto said. “Every peso will be used for programs that matter most. It will be invested back into the nation.”

Recto added that the remittance aligns with President Ferdinand R. Marcos Jr.’s directive for fiscal discipline among government-owned and -controlled corporations (GOCCs), ensuring non-tax revenues help fund key priorities without burdening the public with new taxes.

Under the Dividend Law (RA 7656), GOCCs must remit at least 50% of net earnings from the previous year. The DOF has requested GOCCs to raise this to 75% to maximize non-tax revenue.

“₱8.96 billion is a large sum,” Recto noted, “but its real value multiplies once it funds classrooms, hospitals, and roads.”

According to the DOF, PSALM is key to transforming the country’s energy sector into a modern, inclusive, and competitive industry. Its mandate includes the sale and privatization of National Power Corporation (NPC) assets, management of Independent Power Producer (IPP) contracts, and liquidation of NPC’s financial obligations.

“You do the heavy lifting many don’t see—preparing assets for privatization, guarding bid integrity, sealing deals that power the economy,” Recto said. “Every successful privatization reduces taxpayer burden. Every power plant handed to capable hands means brighter homes and stronger communities.”

About PSALM

Created under the Electric Power Industry Reform Act (EPIRA) or Republic Act No. 9136, enacted June 8, 2001, PSALM’s key functions include:

• Structuring the sale and privatization of NPC assets and IPP contracts

  
  

• Liquidating stranded contract costs using asset sale proceeds and Universal Charge revenue

  
  

• Restructuring NPC loans

  
  

• Administering and applying the NPC portion of the Universal Charge

  
  

Its principal objective is to manage the orderly sale, disposition, and privatization of NPC generation assets, real estate, and IPP contracts to liquidate all NPC financial obligations in the most efficient and beneficial manner for the public.