EPF Declares Dividend Rates Of 6.15% And 5.9% For Syariah For 2018
Author Avatar

 

EPF Declares Dividend Rates Of 6.15% And 5.9% For Syariah For 2018(Image: New Straits Times)

The Employees Provident Fund (EPF) has declared dividend rates for 2018 of 6.15% for conventional savings and 5.9% for syariah savings. The total dividend payout for 2018 amounted to RM47.31 billion (RM43 billion for conventional, RM4.32 billion for syariah), which is 1.7% lower than the payout in 2017.

Commenting on the announcement, Finance Minister Lim Guan Eng stated that the dividend rate was “examplary”. “Experts had predicted that the dividend rate will not reach 6%, to reach even 5% would be difficult. As such, this announcement is beyond expectations,” he said. “Against a sluggish economic backdrop because of the conflict between the United States and China, Malaysia can be considered as one of the best-performing economies.”

For 2018, the EPF recorded a gross investment income of RM50.88 billion. RM46.26 billion was attributed to conventional savings, while the remaining RM4.62 billion was attributed to syariah savings. In a statement, the EPF stated that the syariah portfolio recorded a lower income in 2018 due to the underperformance of the telecommunications, construction, and oil and gas sectors in the domestic portfolio.

While the 2018 EPF dividend rate is better than expected, it is lower than the record 6.9% for conventional and 6.4% for syariah savings in 2017. Nevertheless, the EPF dividend rate for 2018 is still around the average rate recorded by the EPF for the past 10 years.

EPF Chairman Tan Sri Samsudin Osman said that the EPF is pleased that the fund’s portfolio has achieved favourable returns despite 2018 being a difficult year in global financial markets. “More importantly, we consistently deliver above-inflation returns to preserve and increase the value of our members’ savings over the long term and help them to achieve a better retirement future,” he said.

(Sources: The Star, Free Malaysia Today)

 

0 0 votes
Article Rating

SHARE

Comments (0)

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
Top Investment Articles
Post Image
Discover Futures as An Investment Option
Sharon Bentley
- 2nd July 2021
In general, the importance of investing cannot be overemphasised, especially in preparation for long-term financial goals. Some popular […]
Post Image
4 Reasons Why You Should Start Learning To Invest In The Global Markets
The RinggitPlus Team
- 19th May 2021
In the past, global investing has not always been something that seemed readily accessible to Malaysians. Expensive transaction […]
Post Image
Historical EPF Dividend Rates
The RinggitPlus Team
- 3rd March 2021
Ever wondered how this year's EPF dividend rate compares to previous years? We got you covered with our historical 11-year chart!
Post Image
MIDF Launches MIDF Invest, Digital Investment Platform For US Stocks And ETFs
Alex Cheong
- 6th July 2021
MIDF Amanah Investment Bank Bhd has launched its new MIDF Invest app, an online investment platform that allows […]

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image