NextGen Day

MANILA – The board of trustees of the Home Development Mutual Fund (Pag-IBIG Fund) has approved membership savings dividends of PHP31.79 billion, the highest sum ever announced by the agency.

The final dividend rate for Pag-IBIG regular savings is 5.5 percent, while MP2 of the modified savings program is 6 percent, according to Department of Human Settlements and Urban Development Secretary Eduardo del Rosario, who is also the board chair.

“Increasing returns on members’ savings are part of our efforts to provide the best advantages to our members, especially when they confront economic hardships as a result of the ongoing pandemic,” del Rosario said in a statement.

The high dividend rates, according to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti, are due to a higher dividend payout ratio agreed by the board.

“While the agency is only required to return to members at least 70% of its annual net revenue in dividends, management and the Board have always pushed to return more,” he said in another statement. “Our members profit the most when we do successfully.” I’m pleased to report that the board has agreed to keep the highest payout ratio of 92.15 percent for 2021.”

Despite the Covid-19 epidemic, Moti claimed the Fund’s “strong financial position and improving loan portfolio” have allowed it to sustain a higher payout rate for two years in a row.

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