The Bases Conversion and Development Authority (BCDA) remitted over P527 million dividends to the national government this year.
This was on top of the remittances of BCDA to the national government in the form of share of beneficiary agencies, like the AFP Modernization Program, from the disposition proceeds, and guarantee fees for the loan of Subic-Clark-Tarlac Expressway (SCTEX).
This brings the total amount of BCDA’s dividends to the national government to P8.49 billion since its inception in 1993.
In its 2022 unaudited financial report, BCDA posted P1.05 billion in net earnings driven by continuing cash inflows from existing joint ventures and leases, other income-generating activities, and prudent use of funds.
BCDA had also remitted to the national government a total of P885 million in dividends last year, which was half of its P1.77 billion net earnings in 2021. This high earnings was fueled by windfall collections coming from the leases and assets for disposition, such as the joint venture agreement with SM Prime Holdings for the development of the Bonifacio South Pointe and the close-out agreement for the Serendra Property.
