The Clark International Airport Corp. (CIAC) announced a historic dividend remittance of Php282 million to the Bureau of Treasury, marking its highest contribution to the National Government since its establishment. This significant increase from Php202 million in 2023 underscores CIAC’s robust financial performance and its commitment to supporting national development initiatives.
The substantial remittance empowers the National Government to deliver essential public services, reducing its reliance on taxes or loans. This achievement is a direct reflection of CIAC’s efficient operational strategies in recent years.
“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 the government, which surpassed the highest remittance in 2018 of Php161 million when the airport was still operated and managed by CIAC,” stated President and CEO Jojit Alcazar. He further praised CIAC’s sustained efforts in achieving these record-breaking figures.
CIAC’s dividend remittance aligns with RA No. 7656, also known as the Dividend Law, which mandates all government-owned and controlled corporations (GOCCs) to declare and remit at least 50 percent of their net earnings as dividends to the National Government.
CIAC’s commitment to financial excellence has been consistently recognized. 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) commended CIAC for remitting dividends well ahead of the May 15 deadline. Furthermore, the Governance Commission for GOCCs (GCG) acknowledged CIAC as one of the top ten GOCCs, based on its Corporate Governance Scorecard and Performance Evaluation System.
