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THE Pag-IBIG Fund Board of Trustees, chaired by Vice President Kabayan Noli De Castro, recently approved the declaration of P5.54 billion as dividends for the year 2005.

This was announced by Fund President and Chief Executive Officer Atty. Romero Quimbo. “The amount, which represents an increase of 14.23 percent compared to the 2004 level of P4.85 billion, is the biggest so far in the Fund’s 25-year history,” Quimbo said.

For the last six years, the level of dividends has been continuously increasing from P1.81 billion in 2000, P3.44 billion in 2001, P3.74 billion in 2002, P4.21 billion in 2003, P4.85 billion in 2004 and P5.54 billion in 2006. “This is a testament to the Fund’s sustained stability and growth,” Quimbo added.

As provided in its Charter, the Pag-IBIG Fund is to set aside an amount equivalent to no less than 70 percent of the institution’s annual net income and declare this as dividends. The dividends declared for 2005, however, reached 75 percent of the Fund’s record-setting P7.38 billion net income allowing a dividend rate of 4.57 percent. This will be credited proportionately to the members’ total savings.

“Once again, our prudent investment policies and intensified collection efforts have increased the Fund’s profitability. More profit for Pag-IBIG means more benefits to our members,” Quimbo said.