KUALA LUMPUR: Bank Rakyat Group has announced a 14 per cent dividend for the financial year ended December 31, 2019 compared with 13 per cent the previous year. 

The dividend payment will be made on March 29, 2020.

Entrepreneur and Cooperative Development Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said this would involve a total payment of RM406 million to all its 842,847 members.

He said RM382 million would be paid to 840,590 individual members while RM24 million would be disbursed to 2,257 cooperative members.

“Bank Rakyat is always concerned about the needs of its members where 30 per cent of the individual recipients are from the B40 group, while 20 per cent of the cooperative members are also from the B40 group,” he said today.

Therefore, he hopes the dividend payment will help ease the financial burden of an estimated 5.1 million Malaysians (based on four families) at the time when the country is facing the Covid-19 pandemic which also affects the economy.

“I wish to congratulate the board, management committee and all Bank Rakyat staff for their remarkable success once again,” Wan Junaidi said. – Bernama