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Maharlika remits P1.4-B dividend to Treasury
Business World Philippines
|May 14, 2025
THE Maharlika Investment Corp. (MIC) said it remitted a dividend of P1.447 billion to the Treasury, representing 75% of its earnings.
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“About P1.447 billion was the dividend we paid to the National Government, and it represented 75% of our distributable earnings. We could have paid more but we paid taxes,” MIC President and Chief Executive Officer (CEO) Rafael D. Consing, Jr. told BusinessWorld by phone.
The issuance of shares to the Land Bank of the Philippines and the Development Bank of the Philippines resulted in a documentary stamp tax of P750 million. It also paid with-holding tax on its fixed-income investments.
The two state-run banks invested a combined P75 billion in capital in Maharlika last year.
The sovereign wealth fund earned P2.3 billion in interest income in 2024.
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