SHFC REMITS OVER P60M IN DIVIDENDS TO NATIONAL TREASURY
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Social Housing Finance Corporation (SHFC) on Monday remitted a total of P68.66 million worth of dividends to President Benigno Aquino III during the 2016 GOCC Day held at the Malacañang Palace. The amount is 15% higher than last year’s remittance amounting to P54.72 million.
This can be attributed to SHFC’s sterling performance and increased revenue in 2015. SHFC has reached its 2015 target and assisted 26,558 informal settler families (ISFs) through its Community Mortgage Program (CMP) and High Density Housing Program (HDH), and released P2.106 billion worth of loans. Aside from providing housing finance, SHFC has also implemented various technical assistance and capacity building programs to equip ISF communities with skills they needed towards resilience, empowerment, and sustainability.
SHFC President Ma. Ana Oliveros, along with Executive Vice President Eduardo Manicio and Board Secretary Atty. Jose Melgarejo, attended the annual ceremony, which was aimed at recognizing the achievements and contributions of government-owned and controlled corporations.
The event was in compliance to Section 3 of Republic Act No. 7656 which mandates all government-owned and controlled corporations to declare and remit at least 50% of their annual net earnings as cash, stock or property dividends to the national government.
President Aquino, in his speech, lauded GOCC’s efforts in providing excellent public service and improving their revenues each year. The total dividends collected from 54 GOCCs reached P40.2 billion, higher than last year’s remittance of P36.36 billion.
“My pledge to our bosses: leave the country in a much better situation than we found it. And our meeting every GOCC Dividends Day is one proof of this, and this really makes us smile,” Aquino said.
HAPPY GOCC DAY. Social Housing Finance Corporation (SHFC) led by its president Ma. Ana Oliveros joins the annual GOCC Day at the Malacañang Palace on Monday and remits dividends worth P68.66 million to President Benigno Aquino III. (Photo grabbed from RTVM)