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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 209 -
ADJUSTMENT OF DIVIDEND RATE OF SELECTED GOVERNMENT-OWNED AND-CONTROLLED
CORPORATIONS ON THEIR 1993 EARNINGS PURSUANT TO Sec. 5 OF REPUBLIC
ACT NO. 7656
WHEREAS, Section 1 of Republic Act
No 7656 provides that:
“Section 1.
WHEREAS, to support the
viability and mandate of the government-owned and -controlled
corporations, the liquidity, retained earnings position and medium term
plans and programs of these government-owned and-controlled
corporations were considered in the determination of the reasonable
dividend rates of such corporations on their 1993 net
earnings;
WHEREAS, pursuant to Sec. 5
of RA 7656, the Secretary of Finance recommended the adjustment on the
percentage of annual net earnings that shall be declared by various
government-owned and controlled corporations in the interest of
national economy and general welfare.
NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Philippines by virtue of the powers vested in me by law, do hereby order:
Section 1.
Manila
International Airport Authority
Metropolitan Waterworks and Sewerage System
National Development Company
National Power Corporation
Natural Resource and Development Corporation
PHIVIDEC Industrial Authority
Subic Bay Metropolitan Authority
Sec. 2.
Sec. 3.
DONE in the City of Manila,
this 24th day of October, in the year of Our Lord, Nineteen hundred and
Ninety Four.
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