CDC logs ₱5.5B remittance

The Clark Development Corporation (CDC) has remitted a total of ₱5.50 billion in cash dividends to the National Government over the past three years, in compliance with Republic Act No. 7656 or the “Dividend Law.”

CDC President Agnes Devanadera said that the latest remittance of ₱2.488 billion for dividend year 2024 was turned over to the Bureau of the Treasury.

The amount represents 71 percent of CDC’s audited net income for the year and 38 percent increase from the ₱1.80 billion remitted in 2023.

CDC 2024 remittance follows earlier declarations of ₱1.21 billion in 2022 and ₱1.80 billion in 2023.

The ceremonial turnover of the symbolic cheque was held on Thursday, May 22, at the Department of Finance Executive Tower in Malate, Manila.

Devanadera, along with CDC Chair Edgardo Pamintuan and other CDC officials, personally presented 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 projects 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.