MANILA – The Manila International Airport Authority (MIAA) has remitted P3.42 billion in dividends to the the national government in 2018.
MIAA’s dividend payment to the national coffers was the highest on record, exceeding by more than 50 percent the 2017 remittance which was then the highest recorded dividend payment in the last two decades.
The MIAA is mandated to remit at least 50 percent of its annual net income to the national government after it was granted fiscal autonomy during the term of former President Corazon Aquino.
On top of the P3.42 billion dividends, the airport authority also remitted P5.4 billion in corporate income taxes and national government share in MIAA’s gross revenues and departing passengers for 2018.
Department of Transportation (DOTr) secretary Arthur Tugade commended the MIAA for its fiscal performance.
“I am elated that the MIAA has once again exceeded its last fiscal performance. My congratulations to the leadership and ranks of MIAA for your sterling numbers. The Filipino people stand to benefit from your good work,” Tugade said.
MIAA general manager Ed Monreal, for his part, 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 NAIA. Ultimately, our fiscal performance should resonate in our efforts in making each airport passenger satisfied beyond expectations,” he said.
The MIAA hopes that with its strong fiscal showing in 2018, it will land a spot again in the “Billionaire’s Club,” an elite circle of government-owned and -controlled companies and corporations contributing billions of pesos in dividends to the national government. (GMA News)
