February 1, 2021 | 7:39 pm Font Size AAA CASH DIVIDENDS remitted by government-owned and -controlled corporations (GOCCs) to the National Government more than doubled to a record P157 billion last year as the government leaned on the sector to help fund the pandemic response, the Department of Finance (DoF) said. The 2020 tally was up 127% from a year earlier, factoring in foregone dividends, which the government allowed for GOCCs that needed to retain earnings, the DoF said in a statement Monday, citing a report from Undersecretary Antonette C. Tionko. The DoF said the 2020 collection was the highest since Republic Act No. 7656 was signed in November 1993. The law requires GOCCs to remit at least 50% of their annual net earnings as cash, stock or property dividends to the National Government.