The Employees Provident Fund (EPF) announced a dividend rate of 6.30 percent for Conventional Savings and Shariah Savings for 2024.
EPF Chief Executive Officer, Ahmad Zulqarnain Onn, said the dividend rate is higher, at 6.30 percent for conventional savings and 6.30 percent for shariah savings for 2024, making the total payment for 2024 RM73.24 billion.
He said this at a briefing session on the EPF's 2024 financial performance here on Saturday.
Analysts and economists had previously predicted that the EPF would announce a dividend rate for 2024 in the range of 6.0 to 6.2 percent driven by encouraging global and domestic economic conditions.
Finance Minister II, Datuk Seri Amir Hamzah Azizan, previously also expected the EPF to provide good returns in terms of dividends to its contributors based on the EPF's encouraging performance in the third quarter of last year.
He said that based on the EPF's strong performance in the third quarter of 2024, contributors can expect good news regarding better dividend distribution for 2024 compared to the previous year.
For the record, the EPF declared a dividend of 5.50 percent in 2023 for Conventional Savings compared to 5.35 percent in 2022 with a total distribution of RM50.33 billion.
For Simpanan Shariah, a 5.40 percent dividend rate was recorded compared to 4.75 percent in 2022 with a total distribution of RM7.48 billion.
The EPF currently has approximately 16 million members, with over 8.5 million of them being active contributors.
