CASH DIVIDENDS LAW

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                    [ArticleID] => 277925
                    [Title] => PNOC income up 9% to P613M in 2004
                    [Summary] => State-owned Philippine National Oil Co. (PNOC) posted a net income of P612.7 million in 2004, up nine percent from P560.5 million in 2003, the country’s top energy official said.


Energy Secretary and PNOC chairman Raphael P. M. Lotilla said he expects PNOC to remit higher cash dividend to the National Government.


Under Republic Act 7656 or the Cash Dividends Law, PNOC is mandated to remit at least 50 percent of its annual net earnings to the National Government.


                    [DatePublished] => 2005-05-16 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096364
                    [AuthorName] => Donnabelle L. Gatdula
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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PNOC income up 9% to P613M in 2004

By Donnabelle L. Gatdula | May 16, 2005 - 12:00am

State-owned Philippine National Oil Co. (PNOC) posted a net income of P612.7 million in 2004, up nine percent from P560.5 million in 2003, the country’s top energy official said. Energy Secretary and PNOC chairman...

Business