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Today EPF made the official announcement of the dividend payout for the year 2008 and it is only at 4.5%, versus the previous year’s dividend payout of 5.8%. This is a drop of 22% in dividend payout which is quite substantial.
It was reported that the returns for the year 2008 was in fact better than 2007, but due to the economic downturn, EPF is making higher provisions and thus cutting down the dividend payout. You can read the full article here on The Star’s website. It’s a rather short article with not much details. Can’t expect the same front page treatment when they do good, right?
I guess such provisions will go towards bailing out some companies or go towards supporting the market if it crashes. I am fine with such a provision to sustain the market, as long as it doesn’t go to doing non-value added things!
{ 4 comments… read them below or add one }
Average equity drops 40-60%. 20% drop is okay mah
not that bad.
20% drop still acceptable. 2008 economy was good in first half and economy crisis happened in mid of the year. Dropping is acceptable and reasonable.
Alvin & forex-tiwisue, maybe I just have high expectations of them still…oh well, have to be okay with whatever is declared anyway because we can’t influence anything…
Disappointing!Imagine freelance workers who struggle to pay our credit card debts with their whopping interest charges.If EPF cannot manage our hard-earned money and give us good returns at least let us live in dignity by allowing us to withdraw and pay-off our Debts.I truly hope our new PM’s motto 1Malaysia decides to change the Management Chart of his Finance portfolio to show the diverse races in Malaysia taking interest in the Malaysian Economy and Finance.