RHB shareholders approve the highest dividend payout ratio

RHB shareholders approve the highest dividend payout ratio

Kuala Lumpur – RHB Bank Bhd concluded its 56th Annual General Meeting in a virtual setting, delivering sustainable value to shareholders as it recorded a net profit of RM2,618.4 million as at December 31, 2021,

This showcases strong capital and liquidity positions amidst challenges brought about by the COVID-19 pandemic.  

“We have made notable progress through yet another challenging year and deeply appreciate the loyalty, trust, and confidence given by our shareholders, customers and our employees. Our perseverance and hard work have certainly paid off and the successful execution of our FIT22 strategy has further enabled us to create and deliver value to our shareholders,” says Tan Sri Ahmad Badri, Chairman of RHB Banking Group.

A final dividend of 25 sen per share has been approved by shareholders, consisting of a cash payout of 15 sen per share and an electable portion under the Dividend Reinvestment Plan of 10 sen per share.

Together with our interim dividend of 15 sen per share, the total dividend for FY2021 amounts to 40 sen per share or 62.9% payout ratio and a dividend yield of 7.4%, being the highest ever for the Group. 

RHB and endemic phase

“RHB continues to provide assistance to our customers as we transition into the endemic phase of COVID-19. As at December 31, 2021, various financial assistance programmes have been offered to our customers, with a total of approximately RM47.4 billion in Repayment Assistance that benefitted more than 312,000 retail customers and over 7,000 SME customers.

“At the same time, we have channelled the much-needed assistance to local communities, where RM9.1 million was contributed for COVID-19 relief efforts, community enrichment and empowerment programmes, academic excellence programmes for youth from the B40 segment, and humanitarian aid,” adds Ahmad Badri.

All 10 ordinary resolutions tabled at the AGM were successfully passed by the shareholders of RHB Bank, including the audited financial statements for the financial year ended 31 December 2021. 

Meanwhile, at the Extraordinary General Meeting held on the same day, shareholders approved the establishment of a Share Grant Scheme for RHB Bank Berhad and its subsidiaries of up to 2% of the total number of its issued shares. More on Banking @WorldFuture