The Clark Development Corp. (CDC) has remitted P2.49 billion in cash dividends to the National Treasury to help fund the national government’s development programs and projects, the Department of Finance (DOF) said.
DOF Secretary Ralph Recto received the check from CDC on behalf of the National Treasury at the DOF office in Manila on May 22, the department said in a statement on Thursday.
The remittance, which represents the amount for the year so far to the day of remittance, is 38 percent higher than the CDC’s contribution of P1.8 billion last year, according to Recto, a member of the Governance Commission for government-owned and controlled corporations (GOCCs).
The CDC operates the Clark Freeport Zone and Clark Special Economic Zone.
On Wednesday, the DOF said GOCCs remitted to the national government more than P76 billion in dividends from their earnings as of May 15.
The DOF said total dividends for 2025 are expected to surpass the amount remitted in 2024.
Last year’s GOCC dividends reached a record P138.456 billion, based on a report by the Bureau of the Treasury.
These non-tax revenues allow us to support the government’s expenditure program for the year, enabling the DOF to stay on track with its fiscal program and mobilize funds for our priority programs and projects,” Recto said.
The dividends originated from 50 GOCCs, the DOF said.
Under Republic Act No. 7656 or the Dividend Law, GOCCs must remit at least 50 percent of their net earnings from the previous year to the national government.
To maximize the government’s non-tax revenue, the DOF has requested GOCCs to increase their dividend remittances to 75 percent.
