CLARK FREEPORT – The Clark Development Corp. was recognized as one of the top contributors of dividends during the Government-Owned and Controlled Corporations (GOCCs) Day held at Malacañang Palace on Sept. 16.
CDC president and CEO Atty. Agnes VST Devanadera received a certificate of recognition from President Ferdinand Marcos Jr. and Finance Secretary Ralph Recto, following the corporation’s remittance of ₱2.488 billion in dividends for the year 2024. The amount placed CDC ninth among the 53 GOCCs honored during the event.
The latest remittance, turned over to the Bureau of the Treasury on May 14, represents 71% of CDC’s audited net income for the year. It also marks a 38% increase from the ₱1.8 billion remitted in 2023. In 2022, CDC remitted ₱1.21 billion, bringing its total dividend contributions under the current administration to ₱5.5 billion.
The event, led by the Department of Finance, highlighted the role of GOCCs in generating non-tax revenue for the national government. This year, 53 GOCCs remitted a combined total of ₱116.84 billion in dividends, with 15 corporations contributing at least ₱1 billion each.
Also present at the ceremony were CDC chairman Edgardo Pamintuan, directors Atty. Maricris Carlos, Jose Philip Panlilio, Atty. Pablo de Borja, and Atty. Bryan Matthew Nepomuceno, and vice president for security services group PMGen. Lina Sarmiento (Ret.). CDC-PR
