According to the instructions from the Philippine Finance Minister to the state-owned companies, PAGCOR has remitted 75% of its net income for 2024 to the national treasury.
In fact, this amount totals 12.67 billion Philippine pesos (approximately 230 million US dollars), which is 25% higher than the minimum remittance of 50% stipulated by Republic Act No. 7576 of the Philippines. As a result, PAGCOR reaffirms its donation of the additional 25%—which is 4.22 billion Philippine pesos—to ensure funding for government projects that are crucial to the national economy and public welfare.
PAGCOR Chairman and CEO Alejandro H. Tengco commented on this development, saying: "Our 75% dividend remittance complies with Finance Minister Ralph Recto's directive to state-owned and controlled corporations (GOCCs) to prepay an additional 25% dividend to support government spending."
PAGCOR has always been actively involved in corporate social responsibility projects and opened its 49th civic center in Barangay San Isidro in March this year. Last month, the organization also donated 90 million Philippine pesos to fund a new dialysis center in Pampanga province.
The Deputy Finance Minister of the Philippines, Anothny Mariño, also spoke about this latest news, stating: "This substantial dividend contribution will significantly increase our financial resources and advance the government's development agenda."
Recently, PAGCOR also announced its complete financial results for the first quarter of 2025, with revenues increasing by 11.2% year-on-year to 280.7 billion Philippine pesos.
Last week, the company was also praised by Philippine President Ferdinand Marcos Jr. for successfully being removed from the Financial Action Task Force (FATF) grey list.
