State-run Bases Conversion and Development Authority (BCDA) has remitted ₱2.04 billion in cash dividends to the Bureau of the Treasury (BTr), equivalent to 80 percent of its net income last year, the Department of Finance (DOF) reported.

Apart from this being “the highest amount” the BCDA has contributed, the DOF noted that this amount also went beyond the DOF’s mandate for government-owned and controlled corporations (GOCC) to remit 75 percent of their net income.

On top of the over ₱2-billion in dividends, the BCDA remitted ₱3.1 billion as a share of its asset disposition proceeds collected in 2024. This increased the GOCCs’ total contribution to ₱5.2 billion.

“Not only are you fulfilling your duties—you’re even going beyond,” Finance Secretary Ralph G. Recto said during the ceremonial turnover on Monday, June 16.

The remittance aligns with President Marcos’ order to uphold fiscal discipline among GOCCs, which ensures that the government “maximizes non-tax revenues to fund priority programs without the need to impose new taxes on the people.”

Recto said the total amount could be used to build 2,000 classrooms, provide fertilizer for over 500,000 hectares of rice farms, or fund 250 million hot meals for children. If properly allocated to the Armed Forces of the Philippines (AFP), it could improve soldiers’ welfare and equipment.

Recto committed to “strongly support” the BCDA’s efforts to maximize the value of its assets to help raise its earnings and increase its dividends to the government.

“Every idle land you turn into a wealth-creating hub becomes a job generator, a talent magnet, an income booster, and a hope multiplier,” Recto stressed.

He said the railway to Clark and the subway to Bonifacio Global City (BGC) show the government’s strong confidence in the ongoing viability of converting former military bases, aiming to attract more investors and create more opportunities for Filipinos.

For his part, BCDA president and CEO Joshua Bingcang said the state-run firm “remains fully committed to doing our part to grow regional economies, unlock more opportunities, and help build a stronger and more inclusive Philippines.”

The BCDA is tasked with helping modernize the Armed Forces while developing major business hubs and communities such as BGC, New Clark City, and Newport City.

Last month, the DOF said it is confident that total collections from GOCCs this year will surpass the more than ₱136 billion recorded in 2024.

Total dividends collected by the DOF for the first four months declined by 14.2 percent to ₱76 billion from ₱88.6 billion in the same period in 2024. Last year’s total dividends was remitted by 47 GOCCs.