^

MIAA remits record P13.9 billion in dividends

(The Philippine Star) - May 1, 2021 - 12:00am

MANILA, Philippines — The Manila International Airport Authority (MIAA) remitted an impressive P13.9 billion in dividends to the national government from 2016 to 2019, outperforming its total remittances over the last 20 years prior to the Duterte administration.

From 1996 to 2015, MIAA’s total dividend payout amounted to P11.15 billion.

It was in 2018 that MIAA made its record-breaking fiscal performance when it remitted P3.42 billion in dividends.

The highest in MIAA history, the 2018 payment exceeded by more than 50 percent its previous record remittance of P2.2 billion in 2017.

The MIAA is mandated to remit at least 50 percent of its annual net income after it was granted fiscal autonomy two decades ago.

Since the administration of President Duterte took office in 2016, the MIAA dividend payments have significantly increased.

With its continuing strong fiscal performance, the MIAA solidifies its position in the “Billionaire’s Club,” an elite circle of government-owned and controlled corporations (GOCCs) contributing billions of pesos in dividends to the state coffers.

Department of Transportation (DOTr) Secretary Arthur Tugade commended the MIAA for its stellar fiscal performance.

“MIAA’s performance in four years show consistent good fiscal management. My congratulations to the men and women of the MIAA, with the leadership of GM Ed Monreal, for your sterling numbers. The Filipino people stand to benefit from your good work,” Tugade said.

For his part, MIAA general manager Ed Monreal urged the men and women serving the country’s premier gateway to continue striving to further improve fiscal management and allocation of resources to ensure effective and efficient delivery of airport services at the NAIA.

“The MIAA remains committed in enhancing its fiscal management, as we also work on improving the infrastructure and operations of the NAIA.

Ultimately, our fiscal performance should resonate in our efforts in making each airport passenger satisfied beyond expectations,” GM Monreal said.

The airport chief also lauded Tugade for instilling in all attached agencies the central directive of President Duterte to the DOTr to make the Filipino life comfortable through better operational management, transformational initiatives, and infrastructure spending.

MIAA
Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with