MIAA remits all-time high P3.42 billion in dividends for 2018

The Manila International Airport Authority (MIAA) made a record-breaking fiscal performance in 2018, as it remitted PhP3.42 billion in dividends to the National Government (NG).

Last year’s dividend payment to the national coffers was the highest in MIAA history, exceeding by more than 50% 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% of its annual net income to the NG after it was granted fiscal autonomy during the term of former President Corazon C. Aquino.

Since the Duterte administration took office in 2016, the MIAA dividend payments have significantly increased. 

On top of the PhP3.42 billion dividends, the MIAA likewise remitted PhP5.4 billion in corporate income taxes and NG share in MIAA’s gross revenues and departing passengers for 2018.

Department of Transportation (DOTr) Secretary Arthur Tugade commended the MIAA for its stellar 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,” Secretary Tugade expressed. 

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,” GM Monreal said. 

The airport chief also thanked Secretary Tugade for instilling in all attached agencies the central directive of President Rodrigo Duterte to the DOTr to make the Filipino life comfortable through better operational management, transformational initiatives, and infrastructure spending.

“Through the guidance of our strong-willed Secretary Tugade, we push ourselves to achieve higher standards of public service. Sec. Art would hammer it on us that as public servants, it is our duty to serve our countrymen with excellence and efficiency. Our people deserve better fiscal management of government operations, so services become better, too, for the comfort of the Filipino,” GM Monreal added. 

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 GOCCs contributing billions of pesos in dividends to the NG. DOTr