MIAA remits whopping P13.9B dividends to national government from 2016-2019

Wazzup Pilipinas!?

The Manila International Airport Authority (MIAA) performed an impressive feat after remitting P13.9 billion in dividends to the National Government (NG) from 2016 to 2019, outshining its total remittances in the last 20 years prior to the Duterte Administration.

Below are the exact comparative figures of MIAA’s remitted dividends:

*1996 - 2015 : P11,149,527,394.99*

*2016 - 2019 : P13,900,904,299.33*

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

The MIAA’s 2018 dividend payment to the national coffers was the highest in MIAA history, exceeding by more than 50% its 2017 remittance of P2.2 billion which was then the highest recorded dividend payment made by the agency in the last two decades.

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

Since the administration of President Rodrigo 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) that contributing billions of pesos in dividends to the NG.

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,” Secretary 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 bettering 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 thanked Secretary Tugade for instilling in all attached agencies the central directive of President Rodrigo Duterte to the DOTr to make the Filipino life comfortable through better operational management, transformational initiatives, and infrastructure spending.

“Through the guidance of our strong-willed Secretary Tugade, we push ourselves to achieve higher standards of public service. Sec. Art would hammer it on us that as public servants, it is our duty to serve our countrymen with excellence and efficiency. Our people deserve better fiscal management of government operations, so services become better, too, for the comfort of the Filipino,” GM Monreal added.