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Executive Order No. 146 (2021)
—pursuant to RA No. 7656, the Secretary of Finance has recommended the downward adjustment of the percentage of the net earnings that shall be declared by the Overseas Filipino Bank (OFBank) as dividends to the National Government for Calendar Year (CY) 2016, in order to support the capital position of the OFBank and allow it to comply with Bangko Sentral ng Pilipinas regulations, as well as support the Bank's short- and long- term plans and programs for Filipinos overseas, in the interest of na
Section 1.
Adjustment of Dividend Rate. —Pursuant to Section 5 of RA No. 7656, the percentage of net earnings to be declared and remitted by the OFBank to the National Government for CY 2016 is adjusted from fifty percent (50%) of its annual net earnings to 0%. ℒαwρhi৷
Section 2.
Coverage. —The adjusted dividend rate set forth in Section 1 of this Order is applicable only to the OFBank for CY 2016.
Section 3.
Effectivity. —This Order shall take effect immediately.
DONE, —in the City of Manila, this 5 th day of August in the year of Our Lord, Two Thousand and Twenty-One.
(SGD.)— RODRIGO ROA DUTERTE
By the President:
(SGD.)— SALVADOR C. MEDIALDEA Executive Secretary