LTAT declares 4.1% dividend, payout from tomorrow

 

Ismail Sabri Yaacob hoped that LTAT would pay a higher dividend next year. (Bernama pic)

SEGAMAT: The Armed Forces Fund Board (LTAT) has declared a dividend of 4.1 per cent for 2021.

Prime Minister Ismail Sabri Yaakob, when announcing this today, said the dividend rate was the highest declared since the government changed hands in 2018.

Ismail said the dividend declared was low during the time Pakatan Harapan were in power. “Now it is high again under (defence minister) Hishammuddin Hussein’s leadership,” he said and hoped the payout will be much higher next year.

The prime minister said the 2021 dividend payments will be made from tomorrow.
He said LTAT recorded an increased revenue of RM512.3 million in 2021 compared to RM341.1 million in 2020.

Ismail said changes were being made to LTAT so that contributors can choose to increase the share of contribution rate of employees or individuals by more than 10%.

Another amendment was to allow them to choose to continue contributing to the fund even after the end of service.

He said under current regulations those who retire from the armed forces will have to withdraw their entire savings in the fund. “Through this amendment, they can withdraw the entire savings or continue contributing,” he said. - FMT