Pag-IBIG Fund recorded in 2022 the highest dividend rates since the new coronavirus disease 2019 pandemic, the agency said in a statement.
In a statement, Pag-IBIG said its regular savings dividend rate for 2022 reached 6.53 percent and its Modified Pag-IBIG 2 (MP2) Savings surged to 7.03 percent per annum.
The dividend rates on the members’ savings of the agency were the highlights of the Pag-IBIG Fund Chairman’s Report for 2022 at the SMX Convention Center yesterday.
Pag-IBIG Fund posted its best performing year in 2022 as the agency’s net income reached a record high P44.50 billion, a 28 percent increase from the P34.69 billion the year prior.
The agency also reported record high figures for the year: home loans, P117.85 billion; total membership savings collected, P79.90 billion and; loan payments, P127.42 billion.
Pag-IBIG Fund also assisted the highest number of members with 105,212 securing new homes from its housing loan programs and over 2.61 million aided through its short-term loans. The agency ended the year with total assets at its highest, amounting to P827.40 billion.
Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development (DHSUD), who also heads the Pag-IBIG Fund Board of Trustees, said the dividend rates are the result of the agency’s record-high net income coupled with the highest dividend payout ratio approved by the Pag-IBIG Board.
Acuzar said that while the agency is required to give back to members only at least 70 percent of its annual net income as dividends, the Pag-IBIG Board approved a 97 percent payout ratio, resulting in a dividend amount to P42.7 billion – the highest in the agency’s history.
