Clark corporation declares P319-M dividends

Wednesday, December 1, 2010

CLARK FREEPORT — The state-owned Clark Development Corporation (CDC) announced that its Board of Directors has approved the declaration of dividends amounting to P319.83 million.

CDC president Benigno Ricafort said the amount represents 50 percent of the unappropriated retained earnings of CDC as of December 31, 2009 of P639.66 million.
Half of the P319.83 million will be remitted directly to the Bureau of Treasury today, Thursday, while the other half will go to the Bases Conversion Development Authority, CDC’s parent company.

The declaration of dividends was made possible after the Philexim/Tidcorp approved the request of CDC to declare such dividends.

Philexim/Tidcorp is the guarantor of CDC for its US$9.97-million loan with the Deutsche Bank for the procurement of Terminal Radar for the Diosdado Macapagal International Airport that carries a negative covenant on the declaration of dividends.

CDC Chairman Rizalino Navarro will turn over the check to National Treasurer Roberto Tan. Invited to serve as witnesses are Finance Secretary Cesar Purisima, board members and executive officers of CDC.

Ricafort said the remittance is in support to the National Government’s fiscal consolidation efforts to realize revenues. (Reynaldo G. Navales)

Are these articles useful for enhancing your wine and dine experience in the Philippines. Do they also help you with travel, leisure, vacation, dining out, nightlife and other leisure activities plans in Philippines? Considered one of the best restaurants in Manila, Yats hopes to provide you with pertinent information to plan your trips to Pampanga Angeles City Clark Freeport Zone whether you are travelling from Manila or other Asian countries such as Hong Kong, Shanghai, Singapore, Malaysia or Korea.

Restaurant reservations in Philippines, planning of menu, selection of wine for dinner and booking a private function and event in Angeles City Clark Freeport Zone can all be handled. Yats Restaurant and Wine Bar has been regarded by many to be the premier restaurant north of Manila Philippines. Its 3000-line award-winning restaurant wine list has kept many wine lovers happy dining in this restaurant in Angeles City Clark Philippines for over a decade.

Yats Restaurant and Wine Bar was built by Hong Kong-based Yats International in 2000 to provide a world-class fine dining restaurant, business meeting facilities and venues for private dinners and functions in Pampanga Angeles City Clark Freeport Zone. Pampanga Angeles City Clark Philippines was selected for this restaurant because of safety, clean air, absence of traffic and proximity to Manila and Subic.

For comments, inquiries and reservations, email or call these numbers:
(045) 599-5600 0922-870-5178 0917-520-4401 ask for Ernest or Pedro.


Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Philippines? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.


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Mimosa Golf Estate, Clark Field (Clark Airbase), Clark Freeport Zone, Pampanga, Philippines
Tel: (045) 599-5600 0922-870-5194 0917-520-4401 Ask for Daniel, Lito or Cosh

Banquet, Events and Functions, Manila Sales Office 3003C East Tower, Philippines Stock Exchange Center
Exchange Road, Ortigas Center, Metro Manila, Philippines
Tel: (632) 633-1566 ask for Rea or Chay

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