by AKMAR ANNUAR

EXPERTS are projecting that the Employees Provident Fund (EPF) will deliver a dividend rate between 5.7% and 6% in 2024.

This reflects an improvement from the 5.5% and 5.4% declared for Conventional Savings and Shariah Savings in 2023.

Universiti Sains Islam Malaysia Faculty of Muamalat Economics lecturer Prof Datuk Dr Mustafa Mohd Hanefah opined that
Malaysia’s strong economic performance drives the anticipated increase.

“I foresee the dividend rate for Conventional Savings to be between 5.75% and 6%, while Shariah Savings could range from 5.6% to 5.9% this year,” he said in a statement.

He added that this projection is supported by Malaysia’s GDP, which recorded a growth of 5.3% in the third quarter and has the potential to reach 5.9%.

Last year, EPF declared a 5.5% dividend for Conventional Savings and 5.4% for Shariah Savings.

Echoing this optimism, Putra Business School MBA Programme director Prof Madya Dr Ahmed Razman Abdul Latiff said the higher dividend outlook is driven by the robust performance of Bursa Malaysia.

“The stronger dividend projection is attributed to Bursa Malaysia’s positive growth this year, with the FTSE Bursa Malaysia KLCI gaining over 10%,” he said.