Protein phosphatase able to dephosphorylate StkP-P and other phosphorylated protein substrates. PhpP and its cognate protein kinase StkP appear to constitute a functional signaling couple in vivo, PhpP's primary role being probably to control phosphorylation levels of StkP and of its targets. PhpP thus performs an essential control of StkP activity (By similarity). Also dephosphorylates DivIVA in vivo. H2O + O-phospho-L-seryl-[protein] = L-seryl-[protein] + phosphate H2O + O-phospho-L-threonyl-[protein] = L-threonyl-[protein] + phosphate Binds 2 manganese ions per subunit. Mainly localizes to the midcell division sites in a StkP-dependent manner, since PhpP is present at midcell only when StkP is active. Belongs to the PP2C family.