Recto: SBMA’s P1.47-B dividend remittance represents not sacrifice but shared success

FINANCE Secretary Ralph Recto has underscored that the Subic Bay Metropolitan Authority’s (SBMA) P1.47 billion dividend remittance represents not sacrifice but shared success, helping the government generate funds for public programs without raising taxes on the people.

SHARED SUCCESS Finance Secretary Ralph Recto (fifth from left) said during the SMBA’s ceremonial turnover of the check on July 14, 2025. PHOTO FROM DOF

“What makes dividends special — and why I always say they are my favorite kind of revenue — is simple: dividends help us raise funds for government programs without raising taxes on our people,” Recto said during the SMBA’s ceremonial turnover of the check on July 14, 2025.

“So 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,” he added.

The dividend remittance is in line with President Ferdinand Marcos, Jr.’s directive to uphold fiscal discipline among Government-Owned or -Controlled Corporations (GOCCs), ensuring that the government maximizes non-tax revenues to fund priority programs.

Under Republic Act No. 7656 or the Dividend Law, GOCCs are required to remit at least 50 percent of their net earnings during the preceding year as dividends to the national government. To maximize non-tax revenue, the DOF has requested GOCCs to increase this share to 75 percent.

The SBMA is mandated to develop and manage the Subic Bay Freeport Zone (SBFZ) as a self-sustaining industrial, commercial, financial, and investment center, generating employment opportunities and attracting investments.

Secretary Recto commended the SBMA for its excellent service to the Filipino people, encouraging them to take the next bold step towards making Subic not just a regional hub, but a global player.

“So, 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. And you can count on the DOF’s full support in creating the conditions that will make that happen,” he said.

“The SBMA reaffirms its dedication to supporting and contributing effectively to nation-building initiatives, 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,” SBMA Chairman and Administrator Engr. Eduardo Jose Aliño said in his remarks.

The Department of Finance’s (DOF) Corporate Sector and Strategic Infrastructure Group (CSSIG) is in charge of ensuring that GOCCs operate efficiently, remain fiscally sound, and generate consistent value for the Filipino people, primarily through the remittance of dividends that help fund key national priorities.