Ang Pahayagan

CLARK FREEPORT ZONE— The Clark Development Corporation (CDC) has remitted P2.488 billion in cash dividends to the national government for dividend year 2024, in compliance with Republic Act No. 7656 or the “Dividend Law.”

This brings the CDC’s total dividends declared under the administration of President Ferdinand R. Marcos Jr. to P5.5 billion, following earlier declarations of P1.21 billion in 2022 and P1.80 billion in 2023.

CDC President and CEO Agnes Devanadera reported that the 2024 remittance represents 71 percent of the corporation’s audited net income for the year and marks a 38 percent increase from the amount remitted in 2023.

She emphasized the importance of good governance in ensuring that public revenues are translated into tangible benefits for the Filipino people

“[Government-owned and controlled corporation] 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 noted.

The ceremonial turnover of the symbolic cheque representing the P2.488-billion remittance took place at the Department of Finance Executive Tower in Manila.

During the event, Devanadera, along with CDC Chairperson Edgardo Pamintuan and other CDC officials, personally presented the cheque to Finance Secretary Ralph Recto and National Treasurer Sharon Almanza. (PIA Region 3)

Clark Development Corporation (CDC) President and CEO Agnes Devanadera (fifth from right), together with CDC Chairperson Edgardo Pamintuan (fourth from right) and the CDC Board of Directors, leads the ceremonial turnover of the symbolic P2.488-billion remittance cheque for dividend year 2024 to Finance Secretary Ralph Recto (fourth from left) and National Treasurer Sharon Almanza (fifth from left). (CDC)