President Ferdinand Marcos Jr. commended government-owned and -controlled corporations (GOCCs) for remitting a record ₱140 billion in dividends to the national government, saying the funds will help finance essential public programs without increasing taxes on Filipinos.
Speaking during the 2026 GOCC Day celebration at Malacañang on Wednesday, the President said the strong dividend collection reflects effective governance, sound financial management, and responsible stewardship of public resources.
“Every peso that you have remitted strengthens the government’s capacity to deliver better services without imposing additional tax burdens on ordinary Filipinos,” Marcos said.
“It is proof that sound governance and fiscal responsibility can create opportunities for our people while sparing them from bearing greater financial sacrifice.”
Under the Dividend Law (Republic Act No. 7656), GOCCs are generally required to remit at least 50 percent of their annual net earnings to the government.
This year, however, the Department of Finance raised the target to 75 percent, a goal that President Marcos said the corporations successfully achieved. As of July 8, a total of 50 GOCCs had declared ₱147.15 billion in dividends, with most of the amount already remitted.
“It was an ambitious target, one that demanded discipline, efficiency, and a strong commitment to the highest standards of public stewardship. I am pleased that the response from our GOCCs has shown that such standards are within our reach,” the President remarked.
Marcos highlighted how the remitted funds could be used to improve public services, noting that the amount is enough to build around 40,000 classrooms, provide 165,000 housing units, or construct nearly 9,000 kilometers of farm-to-market roads.
Despite recognizing the financial achievements of GOCCs, the President reminded them that generating income should never overshadow their primary responsibility to serve the public.
“While some GOCCs are created to generate revenue and ensure financial sustainability, may you never lose sight of the reason that you exist. Your foremost mandate is that of public service. Profit is never the end in itself. It is just a means to better serve our people,” he reminded them.
Marcos also encouraged GOCCs to continue improving their operations while maintaining accountability in the use of public funds.
“At the same time, let us remain steadfast in practicing fiscal discipline. Public resources must never be treated as privileges to be spent, but as responsibilities to be managed wisely, transparently, and intentionally.”
GOCC Day is observed every year to recognize the contribution of government-owned and -controlled corporations in generating non-tax revenues and supporting the country’s development goals.