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PHILIPPINE LAWS, STATUTES & CODES
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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 399 -
INCREASING THE RATE OF CASH DIVIDENDS TO BE DECLARED BY GOVERNMENT
OWNED OR CONTROLLED CORPORATIONS SUBJECT TO CERTAIN EXCEPTIONS
WHEREAS,
Executive Order No. 518, S. of 1979, Section 17, provides that:
“Sec.
17
WHEREAS, to support its development projects and social services, the government must equitably share in the earnings of the government- owned or controlled corporations without impairing the viability of these companies and the purposes for which they have been established;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:
Section 1.
Sec. 2.
Sec. 3.
DONE in the City of Manila,
this 24th day of April, in the year of Our Lord, nineteen hundred and
ninety.
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