CASH DIVIDEND. Clark Development Corporation officials led by president and chief executive officer Agnes Devanadera (8th from right) with Finance Secretary Ralph Recto (center) during the ceremonial turnover of the cheque for the PHP1.8-billion dividends. In photo from left to right are Treasury Division Assistant Manager Bryan Lozano, Assistant Vice President for Finance Alizaido Paras, Director Paul Christian Cervantes, Director Nicolette Henson, Vice President for Security Services Group Lina Sarmiento, Vice President for Administration and Finance Jose Miguel de la Rosa, Director Maricris Ang-Carlos, Director Jose Philip Panlilio, Director Bryan Matthew Nepomuceno. Chairman Edgardo Pamintuan, Vice President for Business Development and Business Enhancement Noelle Mina Meneses, Bureau of the Treasury National Treasurer Sharon Almanza, DOF Corporate Affairs and Strategic Infrastructure Group Director Joanna Castillo, Vice President for Engineering Services Group Teresito Tiotuyco, and Communications Division Manager Astrud Aguinaldo. (Photo from CDC)
MANILA – The Clark Development Corporation (CDC) said it has remitted an all-time high PHP1.80 billion in cash dividends to the national government.
In a statement on Monday, the CDC said the cash dividend last year was 49 percent higher than the PHP1.207 billion remittance in 2022.
Department of Finance (DOF) records showed that CDC’s dividend rate for 2023 was 56 percent of its net earnings and 65 percent of its net income for the year.
CDC president and chief executive officer Agnes Devanadera presented the check for the remittance to DOF Secretary Ralph Recto at the Executive Tower, Finance Building, Roxas Boulevard in Malate.
Government-owned and controlled corporation dividends are non-tax revenues that support the implementation of infrastructure and socioeconomic development programs by the national government.
Recto expressed his gratitude to the CDC leadership for personally delivering the check to the DOF, highlighting the state-run firm's continuous support for the national government.
He also cited President Ferdinand R. Marcos Jr.’s legacy projects in Clark Freeport, including the Clark Multi-Specialty Medical Center and the National Museum for North and Central Luzon. (PNA)
