CLARK FREEPORT ZONE, Pampanga (PIA) -- The Clark Development Corporation (CDC) remitted P1.8 billion cash dividends for 2023 to the national government.

This amount represents a 49 percent increase from the 2022 amount of P1.207 billion. 

President and CEO Agnes Devanadera said the 2023 cash dividend is its highest single remittance since CDC started managing the Freeport in 1993, owing to the strong financial performance of the state-owned firm. 

CDC’s dividend rate for 2023 was 56 percent of its net earnings and 65 percent of its net income.

Finance Secretary Ralph Recto thanked CDC and highlighted the state-owned firm's continuous support to the national government. 

Specifically, he 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.

Government-owned and Controlled Corporation dividends are vital non-tax revenues that support the accelerated implementation of infrastructure and socio-economic development programs by the national government. (CLJD/MJSC-PIA 3)