Assar announces final dividend for FY2024 with RM16.39 mln payout

KUCHING (July 5): Amanah Saham Sarawak (Assar) has announced a final dividend of 3.5 sen per unit for the financial year ending June 30, 2024, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

He said this involves a total payout of RM16.39 million to be distributed to 57,542 investors, calculated based on the balance of units held as of June 30, 2024.

“This brings the total dividend yield for Assar to 6 sen per unit, comprising an interim dividend of 2.5 sen per unit and a final dividend of 3.5 sen per unit, with a total distribution of RM28.1 million compared to a net income of RM36.16 million.

“Surplus income of RM8.06 million will be retained as reserves for the next financial year,” he said during the announcement at Hikmah Exchange here this afternoon.

Abang Johari said Assar managed to deliver competitive dividend yields due to satisfactory capital market performance for the financial year 2024, with the equity portfolio playing a crucial role in driving the fund’s performance.

Alongside this highly competitive dividend distribution, he asserted that Assar is a safe and low-risk investment and savings instrument with a minimum price guarantee mechanism of RM1.00 per unit, which has been Assar’s key feature since 1998.

“This minimum price guarantee mechanism will continue to play a role in mitigating the impact of economic recessions and severe stock market downturns on Assar investors’ capital.

“This is because this feature allows Assar units to be sold back at a minimum price of RM1 per unit during the guarantee period, regardless of economic or stock market conditions, thereby protecting Assar investors from significant capital losses.

“This is in line with the socio-economic objectives of Assar’s establishment as a low-risk and safe long-term alternative savings scheme,” he added.

Also present at the event was Deputy Premier Datuk Amar Douglas Uggah Embas.