Laguna Water shares P186 million dividend to Laguna province
Laguna Governor Ramil L. Hernandez (middle) together with Manila Water Chief Operating Officer for Non-East Zone and Laguna Water’s President, Mr. Melvin John M. Tan (R), and Laguna Water General Manager Mr. Constantine O. Uy (L) during the ceremonial handover of dividend held at the Provincial Capitol Satellite Office at Hectan Building, Calamba City, Laguna.
Laguna Water, a Manila Water operating subsidiary providing water, used water, and environmental services in several municipalities in Laguna, has recently declared and paid out dividends to its shareholders, including the Provincial Government of Laguna (PGL), for the year 2022. The PGL received dividends amounting to PHP186 million.
The dividend sharing is one of the significant advantages of a fruitful Public-Private Partnership (PPP) agreement, as it allows the province to generate additional revenue from the water sector and allocate it for other local priorities and development projects.
Aside from the dividend payout, the PGL and Laguna Water have also achieved notable milestones following the aspects of the PPP agreement, including improved water supply and sanitation services especially on water quality and pressure, lower Non-Revenue Water (NRW) levels or system losses, better customer service and billing system, implementation of various environmental and social programs to empower and uplift its customers and stakeholders and to protect Laguna’s natural resources, among others.
Currently, Laguna Water has expanded its service areas, from three to 11 cities and municipalities in the said province.
Manila Water Chief Operating Officer for Non-East Zone and Laguna Water’s President, Melvin John M. Tan, expressed gratitude to PGL for its continued support and partnership.
Article continues after this advertisement“We are honored to share the dividends with PGL, which reflects our fruitful relationship and collaboration. We believe that PPP effectively and efficiently delivers essential public services, such as water and sanitation, to our fellow Lagunenses. We look forward to more years of successful cooperation with PGL and other local government units in Laguna,” says Tan.
Article continues after this advertisementMeanwhile, Governor Ramil L. Hernandez, on behalf of PGL, thanked Laguna Water for the dividends and commended its performance and achievements.
“We are very pleased to receive the dividends from Laguna Water, which reflects their strong financial performance and social responsibility. We are proud of our PPP agreement with Laguna Water, which has brought many benefits to our province and people. We hope this partnership will serve as a model and inspiration for other LGUs and private entities wishing to pursue PPP projects in their respective areas,” shared Hernandez.
Laguna Water is a joint venture between PGL and Manila Water Philippine Ventures (MWPV), a subsidiary of Manila Water Company. MWPV holds 70% of the company’s shares, while PGL owns 30%.
The joint venture was established in 2009 through a PPP agreement that aims to provide reliable and sustainable water and sanitation services to the residents and businesses of Laguna.
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