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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 401 - AMENDING
EXECUTIVE ORDER NO. 359 ENTITLED “ADJUSTING THE DIVIDEND RATES OF
SELECTED GOVERNMENT OWNED AND/OR CONTROLLED CORPORATIONS ON THEIR 1995
EARNINGS PURSUANT TO Sec. 5 OF REPUBLIC ACT NO. 7656”
I,
FIDEL V. RAMOS, President of the Philippines, by virtue of the powers
vested in me by law, do hereby amend Section 1 of Executive Order No.
359 dated 16 August 1996 entitled “Adjusting the Dividend Rates of
Selected Government Owned and/or Controlled Corporations on their 1995
Net Earnings Pursuant to Sec. 5 of Republic Act No. 7656” to include
the National Power Corporation which shall declare cash dividends
adjusted from fifty percent (50%) to ten percent (10%).
This Executive Order shall take effect immediately.
DONE in the City of Manila,
this 20th day of February in the year of Our Lord, Nineteen Hundred and
Ninety-Seven.
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