Takaful announces record dividends for 2013

KUALA LUMPUR: Following a sterling year in 2013, Syarikat Takaful Malaysia Bhd has announced a final single-tiered dividend of 40%, which its shareholders approved at its AGM on Tuesday.

Takaful Malaysia posted record-breaking results for 2013 as profit after tax and zakat grew by 34% to RM134.4mil from RM100.1mil in the previous financial year, with return on equity at 25.9%.

With the proposed final dividends, the total single tier dividends for 2013, including the two interims dividends paid during the year, will be 82%, and this translates into a dividend yield of 6.6% based on the company’s share closing price of RM12.40 as at April 21, 2014.

“The total interim and final dividends total of RM133.5mil represent a payout ratio of almost 100% of the net profits generated for the period ended Dec 31, 2013,” Group managing director, Datuk Mohamed Hassan Kamil said.

“This is a record-breaking payout ratio which more than tripled the payout for 2012.

“This year, as we celebrate our 30th anniversary, Takaful Malaysia will continue to emphasise the four core areas of customer reach, operational agility, cost competitiveness and stakeholder confidence,” he said.

Mohammed Hassan said the company’s ultimate goal was to outpace the market and establish the company as the preferred choice not just amongst Takaful companies but all conventional insurance providers as well.

“We are continuously focusing on strengthening our foothold in the market and to be recognised as a dynamic and customer-oriented brand relevant to all Malaysians. We will be strengthening our vibrant image through various advertising channels and marketing activities to achieve brand visibility and appeal for Takaful Malaysia,” he stressed.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Takaful , insurance , 2013 , profits , dividends , records


Others Also Read