KUALA LUMPUR – The Co-opbank Pertama Berhad declared a dividend payment of RM58.93 million for the 2021 financial year.
According to a recent statement, the dividend payment was higher than the RM58.3 million recorded in 2020 and is the highest since the bank’s establishment in 1950.
Co-opbank Pertama’s chief executive officer, Khairil Anuar Mohammad Anuar stated that the rise in payment is expected to benefit over 91,601 of the bank’s eligible members.
In addition to that, the statement also revealed that the Co-opbank Pertama’s shares had surpassed RM1.03 billion as of December 31 last year.
He explained that the net dividend rate last year was 6.82% per Islamic redeemable convertible preference share (iRCPS) while ordinary shares, at 6.1%, were comparable to the dividend that were paid by other investment funds in Malaysia.
Meanwhile, the Malaysia Co-operative Societies Commission (SKM) approved the dividend payment applications for Co-opbank Pertama’s ordinary shares and the iRCPS on July 14. The SKM is the bank’s regulatory body.
Co-opbank Pertama also reported RM86.16 million profit before tax for the fiscal year ending December 31, 2021.
The amount grew 2.4% from the previously recorded RM84.15 million in the previous year.
Furthermore, Khairil said the good performance was a result of the implementation of effective business strategies that were put in place by the Co-opbank Pertama management.
This result was despite a slight rise in non-performing loans contributed from financing of the corporate and cooperatives sector, he added.
Additionally, Co-opbank Pertama members have shown a slight decrease of 858, with the total members rounding out 2021 recorded at 91,601.
Members of the bank will be able to make dividend withdrawals online from July 18 onwards through their website at https://dividen.cbp.com.my/ or, visit the nearest Co-opbank Pertama.
The dividend statements will be available from July 22 onwards, the statement added.
Join our Telegram group for the latest updates!
Read more: Corporate growth expected at 6% in 2023 – Standard Chartered
Discussion about this post