Experts: EPF dividend expected to be 6 percent for 2024

Experts: EPF dividend expected to be 6 percent for 2024

Definitely higher than fixed deposit rates

Even if the dividend percentage is the same as last year, it is close to double the fixed deposit rate. Thus, the chance is there for it to be higher than double? 🙂 It does seem to be so based on the reports after the announcement of the Q3 results for EPF. Another two positive projections and reasons are reported in NST. Both said that the rate would be between 5.7 to 6 percent. I would like to wish they are right and if possible for them to be wrong; their forecasts are lower than actual. 🙂 Read what they say below.

Article in nst.com.my 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 said, “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 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.

Putra Business School MBA Programme director Prof Madya Dr Ahmed Razman Abdul Latiff said, “The stronger dividend projection is attributed to Bursa Malaysia’s positive growth this year, with the FTSE Bursa Malaysia KLCI gaining over 10%.” Read here for the article: Article in nst.com.my

I am not an expert but I also think 6 percent is possible

The reason is because I think the economy has definitely been doing better than 2023. Share market is reflective of this too. We can easily see this via the results of the listed Bursa Malaysia Bhd. Article in theedgemalaysia.com Bursa Malaysia Bhd (KL:BURSA) reported its highest quarterly net profit in three years, thanks to higher income across its business segments, including the securities and derivatives market.

It’s much harder to find a parking spot at my favourite malls. (Yes, the dying malls are still dying yeah…). I was at 1 Utama and was only able to get a place in Canton I after three unsuccessful attempts (2 are fair new restaurants) due to long queues in the restaurants I wanted to have dinner in. Many new businesses, especially restaurants are open and getting the long queues even though the price is not considered affordable.

Happy waiting. Announcement soon…

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