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Executive Order No. 591 (2006)
ADJUSTING THE DIVIDEND RATE OF METROPOLITAN WATERWORKS AND SEWERAGE SYSTEM ON ITS 2005 NET EARNINGS PURSUANT TO SECTION 5 OF REPUBLIC ACT NO. 7656
SECTION 1. The percentage of net earnings to be declared and remitted by the MWSS as dividends to the National Government as provided for under Section 3 of Republic Act No. 7656 is authorized to be adjusted to five percent (5%), or an equivalent amount of not less than P57.06M for 2005.
SECTION 2. The adjusted dividend rate provided for under Section 1 is only applicable on 2005 net earnings of the MWSS.
SECTION 3. This Executive Order shall take effect immediately.
Done in the City of Manila, this 15th day of December, in the year of Our Lord, Two Thousand and Six.
(Sgd.) GLORIA MACAPAGAL-ARROYO President of the Philippines
By the President:
(SGD.) EDUARDO R. ERMITA Executive Secretary
Source: Malaca—ang Records Office Office of the President of the Philippines. (2006). [Executive Order Nos. : 501 — 600]. Manila : Malaca—ang Records Office.