CDC remits ₱1.8-B cash dividends to national treasury

MANILA — Clark Development Corp. (CDC) has remitted a total of ₱1.8.billion in cash dividends for 2023 to the national government, the highest remittance posted by the state-run firm to date.

CDC President and CEO Atty. Agnes VST Devanadera presented the cheque for the remittance to Finance Secretary Ralph Recto at the Executive Tower, Finance Building, Roxas Boulevard in Malate .

The cash dividends for 2023 surpassed the ₱1.207 billion covering the dividend year 2022 by 49 percent.

CDC’s dividend rate for 2023 was 56 percent of its net earnings and 65 percent of its net income for the said year, based on Department of Finance records.

Dividends from government-owned and controlled corporations (GOCCs) are vital non-tax revenues that support the accelerated implementation of infrastructure and socio-economic development programs by the national government.

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Recto expressed his gratitude to the CDC leadership for personally delivering the cheque to the DOF, highlighting the state-run firm’s continuous support for the national government.

He also cited President Ferdinand Marcos Jr.’s legacy projects in Clark Freeport, including the Clark Multi-Specialty Medical Center and the National Museum for North and Central Luzon.