The Philippine Ports Authority °µÍø³Ô¹Ïis set to break its record byÌýremitting a historic P5.20 billion in dividends to the national government for 2024.
31 MARCH 2025 — The Philippine Ports Authority (PPA) has once again surpassed its previous record in dividend remittance, with its Board of Directors approving a historic P5.20 billion contribution to the national treasury for 2024.
The °µÍø³Ô¹ÏBoard of Directors approved the remittance amounting to P5,203,203,998 on March 3, 2025. This figure represents 54% of PPA’s net earnings based on its Calendar Year 2024 Unaudited Financial Statements, exceeding the P5.06 billion dividend in 2023 and the P4.4 billion in 2022—marking another significant milestone in the agency’s fiscal performance.
Under Republic Act 7656, also known as the Dividends Law, government-owned and controlled corporations (GOCCs) are mandated to declare and remit at least 50% of their annual net earnings as cash dividends to the national government.
°µÍø³Ô¹Ïremains one of the country’s top-performing GOCCs. In 2023, it ranked as the fourth highest dividend contributor, surpassing key state agencies such as the Philippine Amusement and Gaming Corporation (PAGCOR), Manila International Airport Authority (MIAA), Subic Bay Metropolitan Authority (SBMA), and the Philippine Charity Sweepstakes Office (PCSO). Its strong financial performance was recognized during GOCC Day at the Philippine International Convention Center (PICC) in May 2024, where President Ferdinand Marcos Jr. commended the agency’s achievements.
Sustained Revenue Growth
Meanwhile, PPA’s 2024 Financial Performance report shows that the agency generated a total revenue of P27.64 billion for the year, reflecting an 8.61% increase from the P25.45 billion recorded in 2023. This growth is attributed to enhanced revenue collection, strategic income management, and the development of new business opportunities. The expansion was further bolstered by a thriving external trade sector, with data from the Philippine Statistics Authority indicating that external trade in goods reached USD 15.45 billion in 2024.
For December 2024 alone, °µÍø³Ô¹Ïrecorded a revenue of P2.67 billion, marking a 19.49% increase compared to the same period in the previous year.
°µÍø³Ô¹ÏGeneral Manager Jay Santiago emphasized that with the continued upward trajectory of revenue in recent years, the agency has sufficient funds to complete ongoing seaport projects and initiate new developments that will boost tourism, trade logistics, and economic growth.
Seaport projects to drive economic expansion
In 2025, °µÍø³Ô¹Ïis set to complete several major infrastructure projects, including the Salomague Port Expansion Project in Cabugao, Ilocos Sur; the San Andres Port Improvement and Expansion Project in Catanduanes; the Banago Port Improvement Project in Negros Occidental; and the Balingoan Port Expansion Project in Cagayan de Oro.
Additionally, cruise ship port projects are in the pipeline for Coron, Palawan; Buruanga, Aklan; and Mambajao, Camiguin, enhancing the country’s capability to accommodate growing international cruise ships demand.
Cargo and container traffic growth
In 2024, °µÍø³Ô¹Ïrecorded a total container traffic of 7.82 million twenty-foot equivalent units (TEUs), while cargo throughput reached 289.52 million metric tons (MTs).
These figures reflect an increase from the 7.51 million TEU container traffic and 272.46 million MT cargo throughput recorded in 2023.
Ship calls also rose significantly, reaching 621,807 domestic and foreign vessel calls, up from 562,888 in 2023.
Passenger traffic for 2024 stood at 78,742,521, including 134,742 cruise ship passengers, underscoring the growing demand for maritime transport and tourism-related activities.
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