LTAT declares 12.5% dividend and special bonus


PETALING JAYA: The Armed Forces Fund Board (LTAT) has announced a higher-than-usual dividend and special bonus of 12.5% for its financial year of 2017 (FY17), on the back of its significant bottom line improvement.

The 12.5% total dividend pay out was higher than the average yearly dividend and bonuses of 11.3% paid out since the establishment of LTAT some 45 years ago.

Eligible LTAT members will receive a dividend of 6% and a special bonus of 6.5% in the form of unit trusts for active members as at end-December 2017.

LTAT’s net profit in FY17 rose by 12.1% to RM667.1mil, as compared to RM595mil a year earlier.

Its total assets increased by 4.2% year-on-year to RM10bil, while the members’ contribution also improved slightly to RM8.8bil compared with RM8.6bil registered in FY16.

According to Defence Minister Datuk Seri Hishammuddin Hussein, LTAT has performed its mandate well in maintaining profitability and delivering a strong dividend pay out.

“The LTAT group has achieved commendable results during the year. I am very pleased with their performance and am confident that they will continue to reach new heights of excellence for the benefit of serving and retired members of the armed forces,” he said in a press release.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Business , LTAT

   

Did you find this article insightful?

Yes
No

Next In Business News

Summary of business stories March 1 to 7
Austria suspends AstraZeneca COVID-19 vaccine batch after death
ANALYSIS-Excessive exuberance: Canada home prices boil over as policymakers sit back
Yemen's Houthis attack Saudi oil heartland with drones, missiles
INSIGHT-Game of drones: Chinese giant DJI hit by U.S. tensions, staff defections
Santos' biggest shareholder cuts stake by a third, remains top investor
Sulaiman: We considered impact
Singapore builds floating solar farms in climate fight
CIMB to adopt selective loan growth strategy
The Week Ahead - IPI, Top Glove, Japan GDP, China trade, US inflation

Stories You'll Enjoy


Vouchers