Permodalan Nasional Bhd has declared an income distribution of seven sen per unit for its Amanah Saham Wawasan 2020 (ASW 2020) for the year ending Aug 31.
PNB chairman Tun Ahmad Sarji Abdul Hamid said the distribution, involving a total payout of RM498.52 million, was an increase of 42.02 per cent compared with last year.
"In 2007, we paid a total of RM351.02 million and declared a dividend of eight sen which included a one sen special bonus in conjunction with Malaysia's 50th Merdeka celebrations," he said when announcing the dividend for ASW 2020 in Kuala Lumpur yesterday.
He said the payout this year would benefit 789,472 unit holders, who currently hold 7.76 billion units of fixed priced equity fund. Up until Aug 31, this year, ASW 2020 has recorded a gross income of RM584.19 million, an increase of 9.78 per cent from the RM532.14 million recorded in the previous 12 months.
Profit from the sale of shares contributed RM223.66 million or 38.29 per cent, dividend income from investee companies contributed RM247.95 million or 42.44 per cent, and RM112.58 million or 19.27 per cent was derived from interest and other income.
"Calculation of income distribution this year will be based on lowest average monthly balance for the period of investment from Sept 1 last year until Aug 31, this year," he said.
He said the income distribution would be reinvested in the form of new units and be credited to the unit holders' accounts automatically. Unit holders would be able to update their accounts at Amanah Saham Nasional Bhd's head office, branches or agents beginning from Sept 2. PNB president and chief executive officer Tan Sri Hamad Kama Piah Che Othman said the fund manager had the capability to pay a dividend of 10 sen, but was keeping the balance as part of a move to maintain its performance in 2009.
"The market is now softer compared with last year," he said.