BCDA remits record P2.04B in dividends
The Bases Conversion and Development Authority (BCDA) on Saturday said it turned over a record-high P2.04 billion in dividends to the national government this year. It marks a 30.7 percent surge from the P1.56 billion remitted in 2024.
BCDA said that the amount remitted to the Bureau of the Treasury last May 15 represents 80 percent of its net earnings in 2024.
The remittance is also well above the 50-percent floor required under Republic Act No. 7656 or the Dividend Law. It also exceeded the Department of Finance’s push for government firms to remit at least 75 percent of profits to the state treasury.
“The BCDA’s record-high dividend remittance is a 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 officer Joshua Bingcang.
“More than contributing to the state coffers, these dividends will provide crucial support for the national government’s programs and further fuel our collective efforts to foster inclusive and sustainable economic growth in the country,” he added.
The dividend payout is part of a broader P5.21-billion total remitted by the BCDA to the Treasury as of mid-May.
This includes P3.13 billion in asset disposition proceeds from 2024, earmarked for several beneficiary agencies, including the Armed Forces of the Philippines (AFP).
It also includes the P46 million in guarantee fees related to the government’s loan from the Japan International Cooperation Agency for the Subic-Clark-Tarlac Expressway Project.
The DOF has been pressing state-run corporations to boost non-tax revenue streams, especially as the Marcos administration aims to rein in the budget deficit without relying heavily on new taxes.
Under Republic Act No. 7227 or the Bases Conversion and Development Act, the BCDA is also mandated to share proceeds from the sale, lease, or joint venture development of former military camps with the AFP to support its modernization efforts, along with other designated beneficiaries.
