THE Department of Finance (DoF) said on Thursday that it received a P2.49-billion dividend from the Clark Development Corp. (CDC), up 38%.
CDC operates, administers, manages, and develops the Clark Freeport Zone (CFZ) and Clark Special Economic Zone (CSEZ).
Meanwhile, Land Bank of the Philippines (LANDBANK) said it declared a dividend of P33.53 billion, exceeding the P26 billion reported by the DoF on Wednesday. LANDBANK said the balance will follow within the year.
The DoF also said P76 billion worth of dividends was remitted to the Bureau of the Treasury as of May.
Over the full year, government-owned or -controlled corporations (GOCC) are expected to remit dividends exceeding the 2024 level of P138.46 billion, it said.
GOCCs have been ordered to remit 75% of their earnings, far exceeding the 50% minimum required by Republic Act No. 7656 or the Dividend Law.
In March, nontax revenue generated by the government declined 69.36% to P19.6 billion, bringing the total to P66.7 billion in the first quarter. — Aubrey Rose A. Inosante