BCDA Hands Over Record Dividend to Treasury

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the Bases Conversion and Development Authority (BCDA)

On April 29, the Bureau of Treasury received a hefty cheque worth Php1.1 billion from the Bases Conversion and Development Authority (BCDA), marking a significant boost to the national coffers. This substantial sum represents BCDA's dividends remittance for 2024, doubling its total remittance from the previous year

The ceremonial turnover, held in Bonifacio Global City, was led by BCDA Chairman Delfin N. Lorenzana and President and CEO Joshua M. Bingcang. Secretary Ralph G. Recto of the Department of Finance (DOF) accepted the cheque on behalf of the Treasury, emphasizing the importance of these funds in supporting the government's programs and projects.

This contribution brings BCDA's total dividend remittance to the national government to approximately PHP 9.6 billion since its establishment in 1992. The dividends will also benefit BCDA's beneficiary agencies, with the Armed Forces of the Philippines being the largest shareholder.

This substantial financial injection follows the signing of a memorandum of understanding between Maharlika Investment Corporation and BCDA, underscoring BCDA's commitment to enhancing the country's fiscal health and supporting key government initiatives.

angelfaith.ph

Ms. Angel Faith Danganan serves as the President of Central Luzon Balita and has worked as a broadcast journalist with the news group for less than a decade. Originally from Capas, Tarlac, she actively participates in numerous civic groups and public service initiatives. She took up her Broadcast communication studies at the Polytechnic University of the Philippines (PUP) Manila.