NLDC Remits Php26 Million Dividends to the National Government
The National Livelihood Development Corporation (NLDC) turned over a check amounting to Php 26 Million to the National Government during the annual "Government-owned and Controlled Corporation (GOCC) Day" held May 13, 2015 at the Rizal Hall at Malacanan Palace.
The amount represents 50% of the total dividends to be remitted by NLDC to the National Treasury, with the balance due after completion of its 2014 audit by the Commission on Audit (COA).
Mr. Edelwin M. Fajardo, NLDC Officer-in-Charge, handed over the check to His Excellency, President Benigno Aquino III during the ceremony attended by heads and representatives of about 48 GOCCs. Accompanying Mr. Fajardo during the hand-over ceremony were members of the NLDC Board of Trustees: Ms. Susana E. Leones (Trustee- designate representing the Department of Agrarian Reform), Ms. Concepcion G. Dodd (Trustee- designate representing the Labor Sector), and Mr. Manuel Q. Gotis (Trustee- designate representing the Department of Interior and Local Government) and NLDC's Acting Corporate Secretary Atty. Lanie Rivera.
Over the years of its existence, NLDC has remained a profitable institution and consistently remitted 50% of its net income to the government in accordance with the Law.
READ: GOCCs turn over P36-B dividends to NG, P4B higher than last year's remittance