Home›Statutes›Executive Orders›Executive Order No. 48 (2023)
Executive Order No. 48 (2023)
Republic Act (RA) No. 7656 requires all government-owned or -controlled corporations (GOCCs) to declare and remit at least fifty percent (50%) of their annual net earnings as cash, or property dividends to the National Government;
Section 1.
Adjustment of Dividend Rate . Pursuant to Section 5 of RA No. 7656, and in the interest of national economy and general welfare, the percentage of net earnings to be declared and remitted by the DBP to the National Government for CY 2022 is hereby adjusted from fifty percent (50%) of its annual net earnings to zero percent (0%). 1aшphi1
Section 2.
Coverage. The adjusted dividend rate set forth in Section 1 of this Order is applicable only to the DBP for CY 2022.
Section 3.
Effectivity. This Order shall take effect immediately.
DONE, in the City of Manila, this 28th day of November, in the year of our Lord, Two Thousand and Twenty-Three.
(SGD.) FERDINAND R. MARCOS, JR.
By the President:
(SGD.) LUCAS P. BERSAMIN Executive Secretary