MANILA — The Authority of the Freeport Area of Bataan (AFAB) was recognized for remitting ₱138.12 million in dividends to the National Government during the 2026 Government-Owned and Controlled Corporations (GOCCs) Day held at the Ceremonial Hall of Malacañang Palace on Wednesday, July 8.

AFAB Administrator and Chief Executive Officer Hussein P. Pangandaman joined President Ferdinand R. Marcos Jr. and officials from various government-owned and controlled corporations during the annual event.

The recognition highlighted AFAB’s dividend remittance under Republic Act No. 7656, or the Dividend Law, which requires government-owned and controlled corporations to declare and remit a portion of their earnings to the National Government.

During the ceremony, the government reported that GOCCs had remitted a total of ₱140 billion in dividends as of July 8, 2026, out of the ₱147.15 billion declared by 50 GOCCs.

According to the government, dividend remittances provide a significant source of non-tax revenue used to help fund priority government programs, infrastructure projects and public services.