ASNB common dividend 10.6 cents for 2016

KUALA LUMPUR: Amanah Saham Nasional Berhad (ASNB), a wholly owned subsidiary of National Capital Berhad (PNB), declared an income distribution of 6.10 sen per unit Amanah Saham Nasional (ASN) for the financial year ended December 31, 2016

It fell from 6:45 cents per unit in 2014.

PNB chairman Tun Ahmad Sarji Abdul Hamid said the income distribution will involve a total payment of RM106.72 million to 1.25 million unit holders who have a total of 1.75 billion units of ASN.

"ASN has a gross income of 126.27 million ringgit. Revenue from the sale of shares contributed profit of 79.91 million ringgit or the equivalent of 63.3 percent of total gross income.

Meanwhile, Ahmad Sarji said dividend distribution was lower due to the challenging economic environment and a lackluster stock market.

"From the period between December 31, 2014 until December 23, 2015 the FTSE Bursa Malaysia has recorded a decrease of 5.5 per cent draws 1,761.25 to 1,663.51 points.

He added that at present, most commodity prices suffered a prolonged decline.

In addition, China's weak economic performance also expressed continuing concern to investors.

However, according to President and Chief Eksutif PNB, Tan Sri Hamad Che Othman said ASN dividend distribution in the next year is projected to be better.

"We expect next year to be better. In terms of broker estimates reflect the performance in front of some of the better."

He said the capacity payment for 2015 is 10.5 cents more per unit, but due to current market conditions ASNB reflection decided charged at 6.10 en unit.

He was speaking at the announcement of the income distribution of ASN in the capital on Monday.

The income distribution will be reinvested into additional units of ASN and is automatically credited into the unit holders' accounts based on the net value as at 31 December 2015.

Unitholders can update their ASN accounts starting January 4, 2016 at any ASNB offices or agents throughout the country.