Clark Development Corporation (CDC) President and CEO Atty. Agnes VST Devanadera (fifth from right) , together with Chairman Atty. Edgardo Pamintuan (fourth from right) and the CDC Board of Directors, lead the ceremonial turnover of the symbolic remittance cheque to Department of Finance (DOF) Secretary Ralph Recto (fourth from left) and Bureau of the Treasury (BTr) National Treasurer Sharon Almanza (fifth from left) . Also in the photo (from left to right) are Directors Pablo de Borja, Maricris Ang-Carlos, Ana Liza Peralta, Jose Philip Panlilio, Manuel Feliciano, Paul Christian Cervantes, and Nicolette Henson. (CDC Photo)
CLARK FREEPORT — The Clark Development Corporation (CDC) has remitted a total of ₱5.50 billion in cash dividends to the National Government over the past three years, in compliance with Republic Act No. 7656 or the “Dividend Law.”
CDC President and CEO Atty. Agnes VST Devanadera reported that the latest remittance of ₱2.488 billion for dividend year 2024 was turned over to the Bureau of the Treasury on May 14, 2025. The amount represents 71 percent of CDC’s audited net income for the year and marks a 38 percent increase from the ₱1.80 billion remitted in 2023.
CDC President and CEO Atty. Agnes VST Devanadera and DOF Secretary Ralph Recto share a light moment during the ceremonial turnover of the symbolic remittance cheque held at the Department of Finance Executive Tower on May 22. (CDC Photo)
The 2024 remittance follows earlier declarations of ₱1.21 billion in 2022 and ₱1.80 billion in 2023, bringing the total dividends declared under the administration of President Ferdinand R. Marcos Jr. to ₱5.50 billion.
CDC Chairman Atty. Edgardo Pamintuan (rightmost) and President and CEO Atty. Agnes VST Devanadera presented the cheque to Finance Secretary Ralph Recto during the ceremonial turnover of the symbolic remittance cheque to the Department of Finance. (CDC Photo)
The ceremonial turnover of the symbolic remittance cheque was held today, May 22 at the Department of Finance’s Executive Tower in Malate, Manila. Atty. Devanadera, along with Chairperson Atty. Edgardo Pamintuan and other CDC officials, personally presented the cheque to Finance Secretary Ralph Recto.
The CDC Board of Directors and members of the management team pose for a photo during the ceremonial turnover of the symbolic remittance cheque held at the Department of Finance Executive Tower in Malate, Manila.In the photo are: Vice President for Security Services Group PMGen. Lina Sarmiento (Ret.) (third from left); Vice President for Engineering Services Group Engr. Teresito Tiotuyco (fourth from left); Vice President for Legal Affairs Group Atty. Gloria Victoria Taruc (fifth from left); Vice President for Administration and Finance Jose Miguel de la Rosa (seventh from left); and Vice President for Business Development and Business Enhancement Group Atty. Noelle Mina Meneses (fourth from right). Also present were Assistant Vice President for Finance Alizaido Paras, Assistant Vice President for Administration Atty. Bonifacio Tarenio, Jr., Communications Manager Astrud Aguinaldo, and Treasury Division (TD) Assistant Manager Bryan Lozano. (CDC Photo)
The CDC chief emphasized the importance of good governance in ensuring that public revenues are translated into tangible benefits for the Filipino people.
“GOCC 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,” Atty. Devanadera said.
