RHB shareholders approve highest dividend payout ratio of 62.9%

RHB Bank group managing director/group chief executive officer Mohd Rashid Mohamad and chairman Tan Sri Ahmad Badri (right) at its 56th annual general meeting.

KUALA LUMPUR: RHB Bank Bhd’s shareholders approved a final dividend of 25 sen per share, consisting of a cash payout of 15 sen per share and an electable portion under the dividend reinvestment plan of 10 sen per share.

“Together with our interim dividend of 15 sen per share, total dividend for the financial year ended Dec 31, 2021 (FY21) amounts to 40 sen per share or 62.9% payout ratio and a dividend yield of 7.4%, being the highest ever for the group,” chairman Tan Sri Ahmad Badri said in a statement.

He noted that the bank continued to provide assistance to its customers as the country transitioned into the endemic phase of Covid-19.

As at Dec 31, 2021, various financial assistance programmes have been offered to our customers, with a total of approximately RM47.4bil in repayment assistance that benefitted more than 312,000 retail customers and over 7,000 SME customers.

“At the same time, we have channelled the much-needed assistance to local communities, where RM9.1mil was contributed for Covid-19 relief efforts, community enrichment and empowerment programmes, academic excellence programmes for youth from the B40 segment, and humanitarian aid,” Ahmad Badri said.

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At its annual general meeting on Wednesday, all 10 ordinary resolutions tabled were successfully passed by the shareholders of RHB Bank, including the audited financial statements for FY21.

Meanwhile, at the extraordinary general meeting held on the same day, shareholders approved the establishment of a share grant scheme for RHB and its subsidiaries of up to 2% of the total number of its issued shares.