KUALA LUMPUR, Feb 10 — The Employees Provident Fund (EPF) is poised to declare higher dividends of at least 6.2% for 2024, driven by a strong market recovery, a firmer ringgit, and higher returns from fixed-income assets, according to industry experts.
KUALA LUMPUR, Feb 10 — The Employees Provident Fund (EPF) is poised to declare higher dividends of at least 6.2% for 2024, driven by a strong market recovery, a firmer ringgit, and higher returns from fixed-income assets, according to industry experts.
Assoc. Prof. Dr. Nik Ahmad Sufian Burhan from Universiti Putra Malaysia estimates conventional savings dividends will range between 5.8% and 6.2%, while Shariah-compliant savings could be between 5.4% and 5.6%. He noted that EPF’s 10-year average dividend is around 6%, making this projection reasonable.
EPF's diverse investment portfolio has benefitted from a strong performance in Bursa Malaysia, favorable international returns, and Malaysia’s economic growth of 5.3% in Q3 2024. A stronger ringgit has also minimized losses on foreign investments.
Higher returns on fixed-income assets, such as bonds and sukuk, have provided stable yields. Additionally, EPF’s active fund management has helped maximize returns by focusing on high-yield investments while reducing exposure to weaker sectors.
With these factors in play, EPF is expected to deliver solid returns for its members this year.
Experts anticipate that the EPF will announce higher dividends of at least 6.2% for 2024, supported by the rebound in global and domestic markets. - NSTP/SALHANI IBRAHIM
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