The Land Bank of the Philippines said it has declared and committed to remit to the national government P33.53 billion in dividends from its 2024 operations, so far the biggest dividend amount among state corporations.
The bank said in a statement on Sunday this amount of declared dividends was up 4.4 percent from P32.12 billion remitted in the comparative year.
The Department of Finance (DOF) said last week, Land Bank has so far remitted only P26 billion of the committed P33.53 billion.
Land Bank said that with its P33.53 billion declaration, it maintained its standing as the top dividend contributor among GOCCs for the second consecutive year.
Under Republic Act No. 7656 or the Dividend Law, GOCCs must remit at least 50 percent of their net earnings from the previous year to the national government.
To maximize the government’s non-tax revenue, the Department of Finance (DOF) has also requested GOCCs to increase their dividend remittances to 75 percent.
Based on available data on Land Bank’s website, its net income for 2024 reached P35.36 billion.
The DOF earlier said that so far, the Land Bank has already remitted P26 billion of its total dividend declaration for that year.
Land Bank said that the record-setting cash dividends declared this year from its last full-year operations are expected to fund priority infrastructure and socio-economic programs of the government.
“The P33.53 billion dividend underscores Land Bank’s unwavering support for government priorities that uplift lives and communities across the country. It also reflects our strong financial foundation and vital role as a pillar of inclusive growth, ensuring that our sustained performance translates into real and lasting impact,” Lynette Ortiz, the bank’s president and chief executive officer, said in a statement.
Apart from improved dividends, the bank also chalked up an 11 percent growth in its net income for the first quarter of
2025 at P13.29 billion compared to first quarter 2024’s P11.98 billion. Its total assets grew by 5 percent to P3.426 trillion from P3.268 trillion, driven by expansions in both loan and investment portfolios.
Land Bank said that its Agriculture, Fisheries, and Rural Development loan portfolio also ended at a record P844.61 billion equivalent to 53.4 percent of its total gross loan portfolio of P1.58 trillion for the first quarter of the year.
The bank said such an amount supported nearly 28,000 new small farmers and fishers during the period, bringing total beneficiaries assisted to 4.04 million nationwide, through a mix of direct lending, credit conduits, and capacity-building interventions, spanning the entire agricultural value chain.
