Affin Bank Proposes Special Dividend Of RM400 Million, Declares Interim Dividend Of RM100 Million

Affin Bank has proposed a special dividend of RM400.21 million and declared an interim dividend of RM100.22 million.

The special dividend is subject to shareholders’ approval at the upcoming extraordinary general meeting, the bank said in a statement.

President and group chief executive officer Datuk Wan Razly Abdullah said “with the successful completion of the Affin Hwang Asset Management Bhd (AHAM) deal, the bank would like to reward its shareholders with a special dividend of RM400.21 million under the special dividend and RM100.22 million under the interim dividend.

“The completion of this deal paves the way forward and put us in a better position towards realising the aspirations of the bank’s A25 strategic plan which are to gear up our profitability and growth, provide value-based banking for our customers, and leapfrog Affin Bank towards providing unrivalled customer service,” he said in the same statement today.

Separately, in a filing with Bursa Malaysia, the bank said the special dividend was proposed “after taking into consideration sufficient capital buffer for the Affin Bank Group and reassessment of Affin Bank Group’s working capital requirements to catalyse substantial growth in its lending operations.”

The special dividend” is expected to be paid by the end of December 2022, it added.

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