BSP-led dividend surge boosts state coffers

The government’s coffers received a significant liquidity boost in the first two months of the year, as state-run entities remitted more than P90 billion in dividends, a critical buffer against global economic volatility.

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According to the latest Bureau of the Treasury (BTr) data, the surge was headlined by a record P59-billion injection from the Bangko Sentral ng Pilipinas (BSP).

The central bank’s contribution was a sharp reversal from 2025, when its remittances plunged by nearly two-thirds to P18.9 billion from P53.2 billion the previous year. That contraction had been the primary driver behind a net decline in total dividends received by the national government (NG) in the prior fiscal period.

As of end-February, the central bank accounted for nearly two-thirds of the P91 billion in total dividends remitted by government-owned and/ or -controlled corporations (GOCCs).

Meanwhile, Land Bank of the Philippines (Landbank) followed as the second-largest contributor, providing P25 billion, or roughly 27.5 percent of the end-February total.