Clark Development Corp. (CDC) has set a new record by remitting a total of ₱1.8 billion in cash dividends for 2023 to the national government. This marks the highest remittance made by the state-run firm to date.
At a ceremony held at the Executive Tower, Finance Building, Roxas Boulevard in Malate, CDC President and CEO Atty. Agnes VST Devanadera presented the cheque for the remittance to Finance Secretary Ralph Recto.
The cash dividends for 2023 exceeded the previous year’s amount of ₱1.207 billion for 2022 by 49 percent. Based on Department of Finance records, CDC’s dividend rate for 2023 was 56 percent of its net earnings and 65 percent of its net income for the year.
These dividends from government-owned and controlled corporations (GOCCs) serve as crucial non-tax revenues that support the accelerated implementation of infrastructure and socio-economic development programs by the national government.
In response to the gesture, Secretary Recto expressed gratitude to CDC’s leadership for personally delivering the cheque to the Department of Finance. He also commended the state-run firm for its continuous support towards the national government.
Furthermore, Secretary Recto highlighted 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.
This significant remittance by CDC underscores the organization’s commitment to contributing to the country’s economic growth and development through its financial contributions to the national government.
