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Sunday, June 16, 2024

BCDA raises dividend payout to gov’t to P1.1b

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State-run Bases Conversion and Development Authority (BCDA) said it doubled its support for the national government this year, remitting P1.1 billion in dividends to the Bureau of the Treasury (BTr).

BCDA president and chief executive Joshua Bingcang said the additional funding would contribute to government spending and economic growth initiatives in 2024.

“The BCDA’s higher dividend remittance to the national government reflects its sustained good financial standing amid efficient revenue generation and expenditure management. This year, we are remitting more than the share mandated by the law as testament to our commitment to nation building,” he said.

The state agency doubled its remittance from P527 million in 2023.

This brought BCDA’s total dividend contribution to the national government to nearly P9.6 billion since it was established in 1992.

The BCDA also contributes to the BTr through guarantee fees for the Subic-Clark-Tarlac Expressway (SCTEX) loan and proceeds from its asset disposition program.

Program proceeds are distributed to various beneficiary agencies, with the Armed Forces of the Philippines being the primary recipient.

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