26-05-2025
Landbank declares record-high P33.53-B cash dividends
State-run Land Bank of the Philippines (Landbank) declared Monday a record-high P33.53 billion in cash dividends to the national government, keeping its standing as the top contributor among government-owned and -controlled corporations (GOCCs) for the second straight year.
The latest dividends compare with the P32.12 billion Landbank remitted in 2024, when it posted a P35.358-billion net income as its interest income stood at P140.634 billion, and interest expense was recorded at P43.386 billion.
'The P33.53 billion dividend underscores Landbank's unwavering support for government priorities that uplift lives and communities across the country,' Landbank president and chief executive officer Lynette Ortiz said in a statement.
'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,' she added.
Under Republic Act 7656 or the Dividend Law, GOCCs are mandated to declare and remit at least 50% of their net earnings as dividends to the national government.
Landbank opened 2025 with a P13.29-billion net income to reflect an 11% increase from P11.98 billion the previous year. It ended the quarter with P3.426-trillion worth of assets, and a gross loan portfolio of P1.58 trillion.
The bank is mandated to promote rural development while remaining financially viable. It implements the comprehensive agrarian reform program (CARP), provides assistance to small farmers and fisherfolk, and serves as an official depository of government funds. — Jon Viktor D. Cabuenas/RSJ, GMA Integrated News
