Their remittances as of May were already ripe to overtake the amounts they turned over for the whole of 2018.
GOCCs turn over P40B in dividends for 2018
The operations of government-owned and -controlled corporations (GOCCs) are turning out to be good cash cows, with dividends already reaching P38.9 billion as of last month.
The amount nearly matches the P40.17 billion total collections for the entire 2018, the Department of Finance (DOF) said.
Duterte merges 5 GOCCs to save costs
The DOF is now so sure that dividend remittances will set a new record high for 2019, given that they are on this level barely halfway into the year.
Some 46 GOCCs remitted dividends as of May 16 led by the Philippine Amusement and Gaming Corp. with P16.17 billion. Other big gainers are the Philippine Deposit Insurance Corp. with P4.58 billion and the Bangko Sentral ng Pilipinas (P4 billion).
Others on the list were the Philippine Ports Authority (P3.51 billion), Manila International Airport Authority (P3.42 billion), National Power Corp. (P842 million), Clark Development Corp. (P815 million), Philippine Charity Sweepstakes Office (P744 billion), PNOC Exploration Corp. (P699 million) and Philippine Economic Zone Authority (P650 million).
Keep them coming!