Sunday, February 19, 2012

EPF declares 10-year high dividend of 6%

Malaysians who contribute to the EPF (Employee Provident Fund) would be happy to note that the dividend declared for last year is 6%, an increase of 0.2% over that of last year's.

From The Star:

PETALING JAYA The Employees Provident Fund (EPF) Board has declared a dividend rate of 6%, the highest in the last 10 years, for the financial year ending Dec 31 2011.

In a statement on Sunday, EPF said the rate, an increase of 20 basis points over the 5.80% paid out in 2010, translates to a total of RM24.47bil being distributed to its members.

"The year 2011 marks another commendable achievement for the EPF.

"Despite the challenging investment landscape, it was the strongest performance since the year 2001 that affirms our long term and prudent investment strategy combined with continuous efforts by our investment team," said EPF chairman Tan Sri Samsudin Osman.

The dividend payout of the RM24.47bil was derived after deducting net impairment allowance on financial assets, investment expenses, operating expenditures, statutory charges and dividend on withdrawals, representing an increase of 13.23 per cent compared to RM21.61bil recorded in 2010.

EPF also posted a gross investment income of RM27.24 billion, up 13.18% from 2010.

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