The Clark International Airport Corp. (CIAC) has remitted P282 million in dividends to the Bureau of Treasury, its highest dividend remittance to the national government since its inception.
The remittance, which increased from P202 million in 2023 to P282 million in 2024, supports the gational government’s ability to deliver services to the public without relying solely on taxes or loans.
The increase in remittance to the national government is a clear indication of CIAC’s efficient operation in recent years.
“From a decline in 2019 to 2021 due to the airport’s privatization, the remittances picked up in 2022 with the P180 million share to government which surpassed the highest remittance in 2018 of P161 million when the airport was still operated and managed by CIAC,” Jojit Alcazar, president and chief executive of CIAC said.
The remittance of dividends to the national government is in accordance with RA No. 7656 or the Dividend Law, which requires all government-owned and controlled corporations (GOCCs) to declare and remit at least 50 percent of their net earnings as dividends to the national government.
From 2019 to 2024, the Association of Government Accountants of the Philippines (AGAP) awarded CIAC as one of the country’s Outstanding Accounting Offices.
In 2024, the Department of Finance (DOF) cited CIAC for remitting dividends way ahead of the May 15 deadline, and the Governance Commission for GOCCs (GCG) recognized CIAC’s efforts as one of the top ten GOCCs, based on the GCG’s Corporate Governance Scorecard and Performance Evaluation System.
