Bank Rakyat declares 15% dividend, total payout reaches RM424.62 million
Published on: Friday, April 05, 2024
By: Bernama
Bank Rakyat’s track record showcases over 20 years of maintaining a double-digit dividend rate performance. (Facebook pic)
Kota Kinabalu: Bank Rakyat today announced a 15% dividend for the financial year 2023 with the total payout amounting to RM424.62 million for 802,823 entitled members.
Entrepreneur and cooperatives development minister Ewon Benedick said the payment of dividends will commence today.
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He said the commendable financial performance has enabled Bank Rakyat to optimise capital and maintain high dividend payments as a reward to all members and stakeholders for their continued support.
“In conjunction with Bank Rakyat’s 70th anniversary, the bank is also declaring a special dividend of 2% with a total payout of RM56.62 million which will be distributed based on eligible shareholdings as at Dec 31, 2023.
“The payment of the special dividend will be made in September 2024,” he said during the dividend announcement and financial performance event of Bank Rakyat Group for the financial year ended Dec 31, 2023 here today.
Ewon said Bank Rakyat has continued to maintain a double-digit dividend rate performance for over 20 years.
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He said this achievement was the result of Bank Rakyat’s commitment to fulfilling its mandate to empower the economic well-being of its members and customers while providing equality and prosperity to all levels of society.
Meanwhile, he said the group continues to support its yearly mandated role to the cooperative ecosystem by contributing 2% of its profit before taxation and zakat amounting to RM35.47 million to the Cooperative Education Trust Fund and 1% or RM17.74 million to the Cooperative Development Provident Fund.
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“The total contribution for 2023 is RM53.21 million,” he said while thanking all members and stakeholders for the support given to Bank Rakyat throughout this year.
He also hopes Bank Rakyat will continue its efforts to remain relevant in the rapid development of the banking industry and continue to contribute to society at every level.
This includes providing comprehensive, sustainable, and innovative banking solutions, in line with the concept of Malaysia Madani, to eradicate hardcore poverty.
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