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(Photo by Benhur Arcayan/ Malacañang Photo Bureau)
President Benigno S. Aquino III lauded PRA for its transformation since his administration started in 2010. In his speech during the 2016 GOCC Dividends Day on May 23 at the Rizal Hall in Malacañang, Aquino cited PRA’s total remitted dividends from July 2010 to May 2016 in the amount of P 5.77 billion. This is more than a five-fold increase compared to the agency’s dividends in its first 33 years.
PRA remitted dividends amounting to P1 billion, making it the 4th consecutive year PRA is in the Billionaires Club.
The remitted dividends stemmed from the company’s increasing net income which is also a reflection of efficient operation and good corporate governance.
GOCCs’ remittance of dividends to the national government is pursuant to Republic Act No. 7656.