Amanah Saham Sarawak announces final dividend of 3.5 sen per unit for FY2024

KUCHING: Amanah Saham Sarawak (Assar) has announced a final dividend distribution of 3.5 sen per unit for the financial year ending June 30, 2024.

Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said this final dividend distribution involves a total payout of RM16.39mil to be distributed to 57,542 investors, to be paid based on their outstanding unit holdings as of June 30.

He added that following the earlier interim dividend payment of RM11.7mil, this brings the total dividend distributed for the financial year to RM28.1mil or equivalent to 6 sen per unit.

“I am proud that Assar has managed to provide a competitive dividend yield following the satisfactory performance of the capital market for the 2024 financial year, with the equity portfolio playing an important role in driving the fund’s performance,” he said.

He said this during the Assar Dividend announcement ceremony at Hikmah Exchange Event Centre here today (July 5).

While pointing out the fairly competitive dividend distribution, he emphasised that Assar is a safe and low-risk investment or savings instrument with a minimum price guarantee mechanism of RM1 per unit, which has been the main feature of Assar since 1998.

According to him, the minimum price guarantee mechanism will continue to play a role in reducing any impact of the economic recession as well as the severe stock market crash on the capital of Assar investors.

He explained that the feature allows Assar units to be resold at a minimum price of RM1 per unit throughout the guarantee period, in any economic/stock market conditions, and thus protects Assar investors from experiencing large losses on their capital.

“This is in line with the socio-economic goals of establishing Assar as a long-term alternative savings scheme that is low risk and safe.

“Alhamdulillah, Assar is still resilient to continue fulfilling its objectives. I am confident that the management of Assar will do its best to overcome all the challenges ahead.

“I also believe that the management will continue the success it has achieved in building a truly resilient portfolio by optimising the combination of different asset classes,” he said.

Also present were Deputy Premier Datuk Amar Douglas Uggah Embas, State Secretary Datuk Amar Mohamad Abu Bakar Marzuki and others.