Amanah Saham Sarawak declares final dividend of 3.5 cents per unit for financial year 2024

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

Prime Minister Datuk Patinggi Tan Sri Abang Johari Tun Openg said the final dividend will be paid out in total to 57,542 investors based on their outstanding unit holdings as on June 30.

He added that following the earlier paid interim dividend of RM11.7 million, the total dividend distributed for the financial year comes to RM28.1 million, or the equivalent of six sen per unit.

“Following the strong performance of capital markets in FY24, we are proud that the equity portfolio has played a key role in driving the fund’s performance and that Assar has been able to offer a competitive dividend yield,” he said.

He made the remarks at the Assar Dividend Announcement Ceremony at the Hikma Exchange Event Centre here today (July 5).

He highlighted that Assar is a safe, low-risk investment or savings vehicle with a guaranteed minimum price mechanism of RM1 per unit, which has been a key feature of Assar since 1998, while pointing out the fairly competitive dividend distribution.

According to him, the minimum price guarantee mechanism will continue to play a role in mitigating the impact of an economic downturn or severe stock market crash on Assar’s investors’ capital.

He explained that this feature allows Assar units to be resold at a minimum price of RM1 per unit during the guarantee period and in any economic or stock market conditions, preventing Assar investors from suffering large capital losses.

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

“Alhamdulillah, Asaal remains strong enough to continue achieving its objectives and I am confident that Asaal’s management will do their best to overcome all the challenges ahead.”

“We believe management will continue its success to date in building a truly resilient portfolio by optimizing the mix of different asset classes,” he said.

Others present included Deputy Prime Minister Amar Douglas Uggah Embas and State Secretary Amar Mohammad Abu Bakar Marzuki.

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