CLARK FREEPORT — A total of ₱5.5 billion in cash dividends has been remitted by the Clark Development Corp. to the national government over the past three years, in compliance with RA 7656 or the “Dividend Law.”
The state firm’s latest remittance of ₱2.488 billion for dividend year 2024 was turned over to the Bureau of the Treasury on May 14, said CDC president and CEO Atty. Agnes VST Devanadera, adding that the amount represents 71% of CDC’s audited net income for the year and marks a 38% increase from the ₱1.8 billion remitted in 2023.
In 2022, CDC remitted ₱1.21 billion, bringing the total dividends declared under the administration of President Ferdinand R. Marcos Jr. to ₱5.5 billion.
The ceremonial turnover of the symbolic remittance cheque was held May 22 at the Department of Finance’s Executive Tower in Malate, Manila with Devanadera, along with CDC chairperson Atty. Edgardo Pamintuan and other CDC officials, personally presenting the cheque to Finance Secretary Ralph Recto.
The CDC chief emphasized the importance of good governance in ensuring that public revenues are translated into tangible benefits for the Filipino people.
“GOCC dividends serve as vital non-tax revenues that empower the government to accelerate infrastructure development—translating into roads, bridges, classrooms, and programs that drive inclusive growth and economic resilience,” Devanadera said. CDC-PR
