Home›Statutes›Executive Orders›Executive Order No. 764 (2008)
Executive Order No. 764 (2008)
ADJUSTING THE DIVIDEND RATE OF NAYONG PILIPINO FOUNDATION, INC. (NPFI) FOR ITS 2006-2007 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 NPFI as dividends to the National Government as provided for under Section 3 of Republic Act No. 7656 is authorized to be adjusted to twenty-five percent (25%), or an estimated total amount of P10.80 Million for 2006-2007.
SECTION 2. The adjusted dividend rate provided for under Section 1 is only applicable on 2006-2007 net earnings of the NPFI.
SECTION 3. This Executive Order shall take effect immediately.
DONE in the City of Manila, this 3 rd day of November, in the year of Our Lord, Two Thousand and Eight.
(Sgd.) GLORIA MACAPAGAL-ARROYO
By the President:
(Sgd.) EDUARDO R. ERMITA
Executive Secretary