The Bases Conversion and Development Authority (BCDA) said it remitted P5.21 billion to the national government as of mid-May 2025, including remittances to the Armed Forces of the Philippines (AFP) modernization and infrastructure development and debt servicing for an expressway project.
It turned over a record P2.04 billion in dividends or May 16, 2025, or 30.68 percent higher compared to the previous year’s P1.56 billion. The remittance represents 80 percent of BCDA’s net earnings for 2024, above the 50 percent minimum required by Republic Act No. 7656 (Dividend Law) and exceeding the Department of Finance’s (DOF) recommended remittance rate of 75 percent for government-owned and controlled corporations (GOCCs).
“The BCDA’s record-high dividend remittance is proof of the agency’s robust financial position, driven by our unwavering commitment to transform former military bases into bustling economic hubs through high-impact public-private partnerships,” said BCDA president and chief executive Joshua Bingcang.
The BCDA also remitted P3.13 billion from asset disposition proceeds collected last year, which are allocated to various beneficiary agencies including the AFP by BCDA’s mandate under Republic Act No. 7227.
