BCDA’s dividend increases 25% to P4b

The Bases Conversion and Development Authority remitted P4 billion to the Treasury from its 2015 operations.

BCDA said the amount represented a 25-percent increase from P3.2 billion it remitted in 2014.

The remittance comprised the national government’s dividends share, the share of government beneficiary agencies from BCDA’s asset disposition proceeds and payment of other obligations to the national government.

BCDA president and chief executive Arnel Paciano Casanova said the latest remittance to the Bureau of Treasury highlighted the solid and consistent financial performance of the agency in generating billions for the government.

“The increase was due to successful business ventures, resolution of some problematic accounts with the private sector, more efficient collection and management of contracts, as well as good financial housekeeping. In effect, it’s good governance translating to good economics,” he said.

BCDA said since the start of the Aquino administration in 2010, the agency managed to be part of the so-called “Billionaires’ Club” or the top government-owned and -controlled corporations that remitted P1 billion or more to the national treasury.

The agency consistently remitted over P2 billion yearly to the Treasury. It remitted P2.112 billion for year 2010,  P2.317 billion  for 2011, P2.738 billion for 2012, P2.207 billion for 2013, P3.202 billion  for 2014 and P4 billion for 2015.