ASNB declares 22% higher income payout

KUALA LUMPUR: Amanah Saham Nasional Bhd (ASNB), a subsidiary ofPermodalan Nasional Bhd (PNB) has declared an income distribution of 7.5 sen per unit and a bonus of 1.25 sen per unit for Amanah Saham Bumiputera (ASB) for the financial year ending Dec 31, 2010.

PNB chairman Tun Ahmad Sarji Abdul Hamid said the income distribution was an increase of 0.2 sen per unit compared with the 7.3 sen per unit paid out last year.

“The income distribution portion will involve a total payout of RM5.93bil by ASNB, an increase of 22% compared with the RM4.86bil paid last year while the bonus portion payment for this year is RM603.34mil,” he said yesterday when announcing the income distribution.

Ahmad Sarji said that up to Dec 17, ASB had recorded a gross income of RM6.58bil with dividend income from investee companies contributed RM3.27bil or 50% of the gross income. Profit from the sale of shares contributed RM2.78bil or 42%.

Tun Ahmad Sarji Abdul Hamid announcing the income distribution at the event.

“The rest of the income at 8% or RM0.53bil was derived from investment in short-term instruments and other investments,” he said, adding that the payment would benefit 7.04 million unit holders, currently holding more than 82.72 billion units of ASB.

He added that the income distribution and bonus would be automatically credited into the respective unit holder's accounts and they would be able to update their accounts beginning Jan 3, 2011.

PNB president and chief executive officer Tan Sri Hamad Kama Piah Che Othman said PNB could have paid up to 11.4 sen this year but the board had decided to pay 7.5 sen as the balance would be brought up for next year's funds management.

“This year's earnings were supported by the increase in dividend contributions from companies particularly Malayan Banking Bhd which amounted to 55 sen compared with 8 sen a year earlier,” Hamad said.

Apart from that, contributions from other companies such as Maxis Bhdand Telekom Malaysia Bhd had also increased this year.

“However, dividend contribution from Sime Darby Bhd dropped to 10 sen this year from 20.3 sen in 2009,” he said.

Hamad also said in terms of income, last year's dividend was less than 50% but it managed to achieve 50% for this year as the result from dividend returns from the investee companies.

Later, when asked on PNB's plan to build the 100-storey Menara Warisan, he said PNB was still doing the study.

Source: The Star, 22 Dec 2010