The Clark International Airport Corp. (CIAC) has remitted P282 million in dividends to the Bureau of the Treasury, up 28.36 percent from P202 million in 2023.
This is the agency’s highest remittance to the national government since its inception.
CIAC president and chief executive Jojit Alcazar credited the achievement to the corporation’s operational efficiency 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,” he said.
The dividend remittance complies with Republic Act No. 7656, or the Dividend Law, which mandates all government-owned and controlled corporations (GOCCs) to remit at least 50 percent of their net earnings to the national government.The Association of Government Accountants of the Philippines (AGAP) recognized CIAC as one of the country’s Outstanding Accounting Offices from 2019 to 2024.
