The Clark International Airport Corporation (CIAC) has remitted P282 million in dividends to the Bureau of Treasury, representing its highest dividend remittance to the national government.
CIAC said the dividends, which increased from P202 million in 2023 to P282 million in 2024, supports the government’s services to the public without relying solely on taxes or loans.
“From a decline in 2019 to 2021 due to the airport’s privatization, the remittances picked up in 2022 with the Php180 million share to government which surpassed the highest remittance in 2018 of Php161 million when the airport was still operated and managed by CIAC,” said President and Chief Executive Officer Jojit Alcazar.
He praised CIAC’s efforts in sustaining this record-breaking numbers.
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.
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.
The Governance Commission for GOCCs (GCG) recognized CIAC as one of the top ten GOCCs.
This was based on the GCG’s Corporate Governance Scorecard and Performance Evaluation System.