Bank Persatuan Declared 6.50% Dividend for 2010

Recently, Bank Persatuan declares 6.5 percent dividend to its members for financial year end 31st December 2010. The dividend rate for 2010 was the lowest ever. Previously, the dividend always stay at least 10 percent per year.

Kindly browse “Historical Bank Persatuan Dividend Rate” page for previous year dividend.

For individual members, dividend will be paid by cash at any Bank Persatuan branches nationwide starting 25th August 2011 until 26th September 2011.  Meanwhile, individual members who earn more than RM5,000 in dividend and co-operative members, dividend will be paid by cheque.

For financial year end 31st December 2010, Bank Persatuan registered a 11.65 per cent increase in pre-tax profit to RM35.2 million from RM31.5 million in 2009. Bank Persatuan’s gross income rose by 18.1 per cent to RM53.5 million from RM45.3 million.

During the 52nd Annual General Meeting, Bank Persatuan intend to distribute 7.5 percent dividend. However, Suruhanjaya Koperasi Malaysia only approved 6.5 percent.

Lower dividend was due to drastic increase in membership shares from RM291.6 million in 2009 to RM367.4 million in 2010. Share membership increase by 26.0 percent while profit only increase by 11.65 percent.