Tabung Haji announces 5% dividend

PUTRAJAYA: Lembaga Tabung Haji has announced a 5% dividend and an additional 2% special dividend for last year.
Stating that 5% was the highest dividend payout by Tabung Haji since its inception 44 years ago, Minister in the Prime Minister's Department Datuk Dr Abdullah Md Zin said 4.2 million active depositors would have the money paid into their accounts by Sunday.
The total dividend payout is RM1.05bil, he said, adding that Tabung Haji's net profit for last year was RM1.066bil after deducting tithe payments.
Speaking to reporters here on Tuesday, Abdullah said Tabung Haji's dividends had been on an increasing trend, adding that in 2001 the dividend payout was 3.25% and had risen annually with last year's dividend standing at 4.75%.
"The special 2% dividend is an additional payment and it is a one-off payment due to the improved economy and the confidence in the country's share market," he said, adding that it was also to celebrate Malaysia's 50th anniversary of independence.
Abdullah said last year the KL Composite Index rose by 32% while the Gross Domestic Product increased to 6.7% in the third quarter of 2007.
Tabung Haji Group managing director and chief executive officer Datuk Ismee Ismail said it had been the practice to channel profits to the depositors through dividend payments.
He said the organisation hoped to maintain the record 5% dividend for this year too, adding that the 2% additional dividend was a special one due to the last year's bullish stock market.
He added that depositors have been increasing and have also invested high sums with RM1.3bil being deposited last year, which showed investors' confidence in Tabung Haji.-www.thestar.com.my