Finance Secretary Ralph G. Recto lauded the Subic Bay Metropolitan Authority’s (SBMA) PHP 1.47 billion dividend remittance as a testament to “shared success,” emphasizing its crucial role in generating funds for government programs without imposing additional taxes on the Filipino people. The ceremonial turnover of the check took place on July 14, 2025.
During the event, Secretary Recto highlighted his appreciation for dividends, stating, “What makes dividends special—and why I always say they are my favorite kind of revenue—is simple: dividends help us raise funds for government programs without raising taxes on our people. So they represent not sacrifice, but shared success. For we are earning this money by demanding more from ourselves—more efficiency, more integrity, more excellence in public service.”
This significant remittance aligns with President Ferdinand R. Marcos, Jr.’s directive to uphold stringent fiscal discipline among Government-Owned or -Controlled Corporations (GOCCs). The directive aims to maximize non-tax revenues to fund the nation’s priority programs. Following Republic Act No. 7656, also known as the Dividend Law, GOCCs are mandated to remit at least 50% of their net earnings from the preceding year as dividends to the national government. The Department of Finance (DOF) has further encouraged GOCCs to increase this share to 75% to optimize non-tax revenue generation.
The SBMA is tasked with the vital role of developing and managing the Subic Bay Freeport Zone (SBFZ) into a self-sustaining industrial, commercial, financial, and investment hub, thereby creating employment opportunities and attracting crucial investments. Secretary Recto commended the SBMA for its outstanding service to the Filipino populace and urged it to elevate Subic’s status from a regional hub to a global player.
“So, let’s keep raising your standards, keep innovating, and keep making Subic the kind of place where investors would want to come, stay, and grow. And you can count on the DOF’s full support in creating the conditions that will make that happen,” Secretary Recto added.
SBMA Chairman and Administrator Engr. Eduardo Jose Aliño reaffirmed the authority’s commitment, stating, “The SBMA reaffirms its dedication to supporting and contributing effectively to nation-building initiatives, public services, and infrastructure development. Our collective goal remains steadfast to build a resilient economy that benefits all Filipinos and supports the growth of industries, communities, and future generations.”
The DOF’s Corporate Sector and Strategic Infrastructure Group (CSSIG) plays a pivotal role in overseeing GOCCs, ensuring their efficient operation, fiscal soundness, and consistent generation of value for the Filipino people, primarily through dividend remittances that support key national priorities.
