KOTA KINABALU, April 5 — Bank Rakyat has announced a 15 per cent 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 Datuk Ewon Benedick said the dividend payment will commence today.
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 two per cent with a total payout of RM56.62 million, which will be distributed based on eligible shareholdings as of December 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 today.
Ewon added that Bank Rakyat has continued to maintain a double-digit dividend rate performance for over 20 years.
He believes 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, the group continues to support its yearly mandated role to the cooperative ecosystem by contributing two per cent of its profit before taxation and zakat amounting to RM35.47 million to the Cooperative Education Trust Fund and one per cent or RM17.74 million to the Cooperative Development Provident Fund.
“The total contribution for 2023 is RM53.21 million,” Ewon said, thanking all members and stakeholders for the support given to the Bank Rakyat Group throughout this year.
He also hopes that Bank Rakyat Group 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 Malaysia Madani's concept, to eradicate hardcore poverty.
— Bernama
