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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 154 - ADJUSTING
THE DIVIDEND RATE OF MANILA INTERNATIONAL AIRPORT AUTHORITY ON ITS 1998
NET 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 Manila International Airport Authority (MIAA), its liquidity, retained earnings positions and medium term plans, and programs were considered in the determination of the reasonable dividend rate of said corporation on its 1998 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 the MIAA in the interest of national economy and general welfare;
NOW, THEREFORE, I, JOSEPH EJERCITO ESTRADA, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:
Section 1.
Sec. 2.
Sec. 3. Since 19.07.98.
Done in the City of Manila,
this 1st day of October, in the year of Our Lord, nineteen hundred and
ninety-nine.
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