The Clark International Airport Corporation (CIAC) has remitted ₱282 million in dividends to the Bureau of the Treasury, marking its highest contribution to the National Government since its establishment.

This 2024 remittance represents a sharp increase from the ₱202 million turned over in 2023, reinforcing CIAC’s improved financial standing and efficient operations. The remitted amount contributes to the government’s ability to deliver public services without relying solely on taxes or loans.

CIAC President and CEO Jojit Alcazar said the agency’s financial rebound began in 2022, following a decline in remittances from 2019 to 2021 due to the airport’s privatization. “The ₱180 million remittance in 2022 surpassed our previous record of ₱161 million in 2018, when CIAC was still managing the airport directly,” Alcazar noted.

Under Republic Act No. 7656 or the Dividend Law, government-owned and controlled corporations (GOCCs) are mandated to declare and remit at least 50 percent of their net earnings to the National Government annually.

CIAC’s strong fiscal performance has not gone unnoticed. From 2019 to 2024, the Association of Government Accountants of the Philippines (AGAP) has consistently named CIAC as one of the country’s Outstanding Accounting Offices.

In 2024, the Department of Finance also commended CIAC for remitting its dividends well ahead of the May 15 deadline, while the Governance Commission for GOCCs (GCG) recognized CIAC as one of the top ten GOCCs in the country based on its Corporate Governance Scorecard and Performance Evaluation System.