BCDA remits record P5.33 billion in dividends

MANILA, Philippines — The Bases Conversion and Development Authority (BCDA) was recognized as one of the top performing government-owned and controlled corporations (GOCCs) following its record-high dividend remittance to the national government.

The Philippine Economic Zone Authority (PEZA) was also recognized for its significant contribution to the national government.

In a statement, the BCDA said that it emerged as the sixth top-performing GOCC with its remittance to the national government reaching an all time high of P5.33 billion.

“This milestone is a testament to the BCDA’s steadfast commitment to spur progress and inclusive development for the Filipino people. It is a reflection of our responsibility to ensure that every peso we generate is translated into nation-building initiatives that uplift communities and strengthen our economy,” BCDA president and CEO Joshua Bingcang said.

“We strive to continue this momentum as we continue our mandate of shaping former military baselands into world-class cities and economic hubs,” he said.

In a separate statement, the PEZA said it was among the top 15 GOCCs as it remitted P1.389 billion in dividends to the national government for fiscal year 2024.

“We are proud to reaffirm PEZA’s role not only as an enabler of investments and jobs but also as a steadfast partner of the national government in raising revenues to support economic and social development,” PEZA director general Tereso Panga said.

The PEZA said its remittance reflects its sustained financial stability and operational efficiency.

“Looking ahead, we remain committed to fostering a globally competitive investment climate while ensuring that its operations continue to benefit both investors and the Filipino people,” Panga said.

Both the BCDA and PEZA were recognized during the GOCC day held on Sept. 16 at Malacañang.

Under Republic Act 7656, GOCCs are mandated to remit at least 50 percent of their net earnings as dividends to the national government.

The funds are used to support government programs for inclusive growth and development.

As of Sept. 12, GOCCs have collectively turned over P116.84 billion in dividends to the Bureau of the Treasury.