Amending E.O. No. 359 s. 1996 Re: Dividend Rates of Certain GOCCs on Their 1995 Net Earnings
Executive Order No. 401 • Presidential Issuances • Executive Orders • Feb 20, 1997
Full text
February 20, 1997 EXECUTIVE ORDER NO. 401 AMENDING EXECUTIVE ORDER NO.359 ENTITLED "ADJUSTING THE DIVIDENDRATES OF SELECTED GOVERNMENT OWNED AND/OR CONTROLLED CORPORATIONS ON THEIR 1995 EARNINGSPURSUANT TO SECTION 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 Section 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%). cdt 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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