CBP distributes 6.82 and 6.10 pct dividends, highest dividend payment of RM58.93 mln

KUALA LUMPUR: Co-opbank Pertama Bhd (CBP) has announced a dividend payment of RM58.93 million for the financial year 2021 compared to RM58.3 million in the previous year, the highest since the establishment of CBP from 1950.

Chief executive officer Khairil Anuar Mohammad Anuar said the increase in payment will benefit 91,601 eligible CBP members.

“Total CBP shares exceeded RM1.03 billion as of Dec 31, 2021,” he said in a statement yesterday.

He said the net dividend rate for 2021 of 6.82 per cent per Islamic redeemable convertible preference share (iRCPS) and 6.10 per cent for ordinary shares are comparable to the total dividend paid by other investment funds in Malaysia.

Earlier on, the Malaysia Cooperative Societies Commission (SKM), which regulates CBP, approved the dividend payment applications for ordinary shares and iRCPS of CBP for the financial year ending 2021.

For the financial year ending Dec 31, 2021, CBP recorded a profit before tax of RM86.16 million, a 2.4 per cent increase from RM84.15 million in 2020.

“The good performance is driven by the implementation of effective business strategy by CBP’s management although there was a small increase in non-performing loan contributed from corporate and cooperatives sectors financing,” he said.

At the same time, CBP’s members have shown a slight drop of 858 members with 91,601 total members in 2021.

CBP’s members can make dividend withdrawals online starting from July 18 through the e-Semakan applications or at all CBP’s branches nationwide and dividend statements can be reviewed from July 22, 2022, at https://dividen.cbp.com.my. — Bernama