by DayakDaily Team
KUCHING, Feb 23: Employees Provident Fund (EPF) contributors can expect better dividend distribution for 2024 based on the fund’s encouraging performance up until the third quarter of 2024 (3Q24), Second Finance Minister Datuk Seri Amir Hamzah Azizan says.
According to a news report by Bernama, Amir Hamzah said: “If we look at its performance up to third quarter of last year, it (the performance) is encouraging.
“By the third quarter, the EPF has already earned RM57.5 billion (investment income), which is better than the previous year.
“This performance will continue into the fourth quarter. The dividend will be encouraging but I cannot comment what it will be. Just wait for it. It will be better.”
He said this to members of the media after completing the ‘Larian Asean: Trek Kewangan @MOF’ event organised by the Finance Ministry (MOF) today.
For 2023, EPF announced a dividend rate of 5.50 per cent for conventional savings, with a total payout of RM50.33 billion and 5.40 per cent for Shariah savings, with a total payout of RM7.48 billion, bringing the total payout amount for 2023 to RM57.81 billion.
This marked an increase from 2022 when the dividend rate stood at 5.35 per cent and a total payout of RM45.55 billion for conventional savings, and 4.75 per cent for Shariah savings, with a total payout of RM5.70 billion, totalling RM51.14 billion.
EPF is expected to announce 2024 dividend rate in early March.
Bernama reported that several economists and academics had previously predicted EPF’s 2024 dividend to exceed six per cent. – DayakDaily
