SUBIC BAY FREEPORT – “Today, we once again gather to celebrate the strength of good governance and nation-building as the Subic Bay Metropolitan Authority officially hands over ₱1.4 billion in dividends to the National Treasury.”
Thus, enthused Finance Secretary Ralph Recto as SBMA chairman and administrator Eduardo Jose L. Aliño presented a mock check for ₱1,465,478,485.70 representing the remittance of the agency in a simple ceremony held at the DOF Bldg., Bangko Sentral ng Pilipinas Complex in Manila on July 14.
Recto noted that dividends are his favorite source of revenue because they “help raise funds for government programs without raising taxes on our people.”
According to Aliño, the ₱1.465-billion dividends comprise 50% of the net earnings in 2024 worth ₱798,267,923.24.
“Aside from the dividend due, the ₱1.465-billion earnings also include the ₱667,210,562.46 as the last installment for dividends of 2022,” he said.
The finance chief remarked, “The SBMA was created to transform what was once a military base into a world-class economic engine – a self-sustaining investment hub that generates jobs and opportunities for our people.”
“As we look to the future, I urge the SBMA to take the next bold step. We have the talent, the location, the incentives, and the leadership to make Subic not just a regional hub, but a global player. So, let’s keep raising your standards, keep innovating, and keep making Subic the kind of place where investors would want to come, stay, and grow,” he furthered.
Press release
