Manila Water Consortium Inc. president Melvin Tan turns over to Gov. Gwen Garcia a cheque worth P10.8 million as Capitol's dividend share in their joint venture company, the Cebu Manila Water Development Inc.
The dividend payout for the year 2022 came from the non-voting preferred shares held by the Provincial Government in the company.
Under the joint venture, MWCI owns 51 percent while the Province owns the remaining 49 percent of CMWD.
CMWD, which extracts water from the Luyang River in the northeastern Cebu town of Carmen, currently supplies 35 million liters of water per day to the Metropolitan Cebu Water District. | Carlo Lorenciana