The National Home Mortgage Finance Corporation (NHMFC) remitted P68.69 million dividends to the National Government during the celebration of the 2016 GOCC Day held at the Rizal Hall, Malacañan Palace on May 23, 2016.
NHMFC’s remittance represents 50% of FY2015 net earnings. Since 2012, the corporation has remitted a total of P154 million to the national treasury.
Vice President Ramon O. Castañeda of the Fund and Asset Management Group, together with Atty. Dante M. Patapat, Compliance Officer; Asuncion Immaculada Patricia P. Bustos, Corporate Executive Officer II; Gwendolyn R. Remorin, OIC of the Human Resource Management Department; and Cynthia M. Mayo, OIC of the Controllership and Budget Department, turned over the check to President Benigno Aquino III during the annual ceremony.
For this year, 54 government agencies participated in the event with total remittances amounting to P40.2 billion.
Section 3 of R.A. 7656, otherwise known as the Dividends Law, requires all Government Owned and Controlled Corporations to declare and remit at least 50% of their annual net earnings to the National Government.