MANILA CITY – During the 2026 Government-Owned or Controlled Corporations (GOCCs) Day celebration, the Philippine National Oil Company (PNOC) was recognized anew as one of the country’s Top Dividend Contributors by President Ferdinand R. Marcos Jr. on July 8, 2026, at the Ceremonial Hall of Malacañan Palace.
President Marcos, together with Department of Finance (DOF) Secretary Frederick D. Go, conferred the Certificate of Recognition to PNOC President and CEO Franz Josef George E. Alvarez in recognition of PNOC’s remittance of Php 1.33 billion in dividends to the National Government.
PNOC was among the top contributors from the 50 GOCCs that collectively declared Php 147.15 billion in dividends, of which Php 140 billion had already been remitted to the National Government as of July 8, 2026.
In his keynote address, President Marcos hailed the strong performance of GOCCs, describing them as “paragons of progress, equity, and opportunity.” He recalled the DOF’s 2024 challenge to increase dividend remittances by an ambitious 75 percent, emphasizing that achieving such a target demanded “discipline, efficiency, and a strong commitment to the highest standards of public stewardship.” The President emphasized that surpassing this challenge reflects the transformative impact of responsible governance and the vital role of GOCCs in advancing national development.
Moreover, the President also highlighted that the dividend collections could fund the construction of almost 40,000 classrooms, provide approximately 165,000 housing units for Filipino families, and build 8,700 to 9,300 kilometers of farm-to-market roads, demonstrating how GOCC dividends directly contribute to national development.
PNOC joined the Power Sector Assets and Liabilities Management Corporation (PSALM) as one of the energy sector’s Top Dividend Contributors. Leading the overall list of dividend remitters for 2026 were the Bangko Sentral ng Pilipinas (BSP), Land Bank of the Philippines (LANDBANK), and Philippine Deposit Insurance Corporation (PDIC).
Held pursuant to Republic Act No. 7656, or the Dividend Law, the annual ceremony marks the turnover of dividends from GOCCs, which are mandated, subject to applicable exemptions, to declare and remit at least 50 percent of their annual net earnings to the National Government. The event underscores the vital role of GOCCs in advancing nation-building through sound fiscal management, financial stewardship, and effective public service.
