CLARK Development Corp. (CDC) remitted a total of P1.8 billion in cash dividends to the national government, posting another record figure for the state-run firm.

CDC President and Chief Executive Officer Agnes Devanadera presented the cheque for the remittance to Department of Finance (DoF) Secretary Ralph Recto at the Executive Tower, Finance Building, Roxas Boulevard in Malate.

The cash dividend for 2023 was the highest single remittance to date from the CDC. It surpassed the remittance of P1.207 billion, covering the dividend year 2022 by 49 percent. CDC's dividend rate for 2023 was 56 percent of its net earnings and 65 percent of its net income for the said year.

The financial performance of the CDC recorded its highest levels in 2023 since it started managing the free port in 1993.

Government-owned and controlled corporation dividends were vital non-tax revenues that supported the accelerated implementation of infrastructure and socioeconomic development programs by the national government.

Recto expressed his gratitude to the CDC leadership for personally delivering the cheque to the DOF, highlighting the state-run firm's continuous support for the national government.

Specifically, he cited President Ferdinand Marcos Jr.'s legacy projects in Clark free port, including the Clark Multispecialty Medical Center and the National Museum for North and Central Luzon.

Also present during the turnover event were DoF Privatization and Partnership Group Undersecretary Catherine Fong, DoF Corporate Affairs and Strategic Infrastructure Group Director Joanna Castillo, Bureau of Treasury National Treasurer Sharon Almanza and other senior officers.

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