by DayakDaily Team
KUCHING, March 1: The Employees Provident Fund (EPF) has declared a dividend rate of 6.3 per cent for conventional savings, and 6.3 per cent for shariah savings for the financial year ended Dec 31, 2024 (FY24), both were the highest declared since 2017.
The dividend rate for conventional savings in 2017 was 6.9 per cent, while the dividend rate for shariah savings in 2017 was 6.4 per cent.
According to a news report by The Edge today, these rates showed an increase from the dividend rates of 5.5 per cent declared for conventional savings and 5.4 per cent for shariah savings in FY23.
It reported that the FY24 dividends exceeded market forecasts as the rates came in at 5.8 per cent to 6.2 per cent for conventional savings, and between 5.4 per cent and 5.6 per cent for shariah savings, on strong investment performance.
The EPF’s total payout for FY24 stood at RM73.24 billion, up from RM57.81 billion in the previous year.
For FY24, the EPF recorded total investment income of RM74.46 billion, up 11 per cent from RM66.99 billion in FY23.
According to reports by The Star, over the past decade, EPF’s dividend payout for conventional savings has been 6.35 per cent in 2013, 6.75 per cent (2014), 6.4 per cent (2015), 5.7 per cent (2016), 6.9 per cent (2017), 6.15 per cent (2018), 5.45 per cent (2019), 5.2 per cent (2020), 6.10 per cent (2021) and 5.35 per cent (2022).
For shariah savings, it recorded dividends of 6.4 per cent in 2017, 5.9 per cent (2018), five per cent (2019), 4.9 per cent (2020), 5.65 per cent(2021) and 4.75 per cent (2022). – DayakDaily
