The Subic Bay Metropolitan Authority (SBMA) has remitted P1.47 billion ($25 million) in dividends to the national government, the Department of Finance (DOF) said.
Finance Secretary Ralph Recto lauded the remittance as “shared success,” saying it helps fund public programs without increasing taxes.
“Dividends help us raise funds for government programs without raising taxes on our people,” Recto said during the ceremonial turnover on July 14, 2025. “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.”
The remittance aligns with President Ferdinand R. Marcos Jr.’s directive for fiscal discipline among government-owned or -controlled corporations (GOCCs), aiming to maximize non-tax revenues for priority programs, the DOF said.
Under Republic Act No. 7656, or the Dividend Law, GOCCs should remit at least 50 percent of their preceding year’s net earnings as dividends. The DOF has encouraged GOCCs to increase this share to 75 percent to boost non-tax revenue.
The SBMA is tasked with developing and managing the Subic Bay Freeport Zone (SBFZ) as a self-sustaining industrial, commercial, financial, and investment hub, attracting investments and generating employment.
Recto commended the SBMA’s “excellent service” and urged them to elevate Subic into a global player.
“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,” Recto said, assuring the DOF’s full support.
SBMA chairman and administrator Eduardo Jose Aliño reaffirmed the agency’s commitment to nation-building, 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,” Aliño said.
The DOF’s Corporate Sector and Strategic Infrastructure Group (CSSIG) oversees GOCC efficiency, fiscal soundness and dividend generation for national priorities.
