The state-owned Philippine Amusement and Gaming Corporation (PAGCOR) has remitted an additional P5bn (€88.7m) in cash dividends to support the government’s fight against the COVID-19 pandemic.
Having turned over P12bn to state coffers in March, the agency’s latest remittance brings the regulator’s total dividend contribution to P17bn.
The additional dividend remittance was recently requested by Finance Secretary Carlos Dominguez, and was taken from PAGCOR’s 2019 net earnings and accumulated retained earnings in 2018.
“There's a need to infuse [...]
