PNB announces 6.60 sen dividend for ASW 2020

Amanah Saham Nasional Bhd, the wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), today announced a 6.60 sen dividend for a unit of the Amanah Saham Wawasan 2020 (ASW 2020) for the

financial year ending Aug 31, 2014.

In announcing the dividend, PNB Chairman Tun Ahmad Sarji Abdul Hamid said the dividend was a decline of 0.10 sen a unit from the 6.70 sen declared last year.

He said the income distribution this year involves a payment of RM1.115 billion, a 5.8 per cent improvement when compared to the previous year's total payment of RM1.053 billion.

"The payout is based on the average minimum equity held for the ASW 2020 financial year.

"The payment is expected to benefit 891,446 unit holders who subscribed to 16.892 billion ASW units," he told reporters when announcing the dividend here today.

Ahmad Sarji said the income distribution will be automatically credited to the unit holders' accounts on Sept 1.

For investors who participated in the ASW 2020 through the Employees Provident Fund (EPF), the income will be credited directly to their EPF accounts through the Members' Investment Scheme.

"As of Aug 18, 2014, the ASW 2020 fund had gross income of RM1.329 billion.

The profit from the sales of shares in companies contributed RM648.7 million or 48.8 per cent of the gross income.

"Dividend income from investments in companies contributed RM460.02 million or 34.6 per cent, while RM21‎9.81 million or 16.6 per cent, was through investments in short term instruments and other sources of income," he added.

For the purpose of calculating the income distribution, Ahmad Sarji said all transactions in the ASW 2020 at ASNB offices and its agents, will be suspended from Aug 26- Sept 1.

"Unit holders can update their ASW investment accounts from Sept 2," he added.

Also present at the announcement was PNB President and Group Chief Executive, Tan Sri Hamad Kama Piah Che Othman.

On the progress of the Menara Warisan development, Kama Piah said the project was now, just entering the pipeline construction phase with about 30 per cent completed.

"We are still in the process of finalising the contractor and other aspects of the project," he added.