[UPDATED] LTAT declares 5% dividend for 2023

KUALA LUMPUR – The Armed Forces Fund Board (LTAT) has declared a 5% dividend for the year 2023, involving a payout of RM485.08 million.

Defence Minister Datuk Seri Mohamed Khaled Nordin announced this today. 

It was reported that the total payout surpasses the 5% dividend declared for FY2022, which stood at RM476.45 million. 

This marks two consecutive years that LTAT has declared a dividend of 5%. 

Khaled said the 2023 dividend was a positive development for LTAT, indicating a “slowly recovering, sustainable, and stable” trend.

Khaled described the 2023 dividend as a positive development for LTAT, indicating a “slowly recovering, sustainable, and stable” trend.

“Hopefully, this brings good news to the 123,380 contributors who are members of the armed forces saving with LTAT.  

With the announcement of this dividend, we believe that LTAT will excel as a pension fund for serving armed forces personnel. 

“LTAT is expected to continue playing a role in advancing the country’s economy through its participation in various fields,” Bernama reported him as saying. 

Khaled made the announcement earlier at the Hotel Royale Chulan. 

He said the dividend distribution for the year 2023 will start today. Meanwhile, commenting on the alleged financial crisis involving LTAT, Mohamed Khaled said it was an unfounded accusation. 

“People don’t really check with us (LTAT). They seem to believe more in sensational stories. 

“We are unlikely to announce such a dividend if we do not have solid and strong financial position,” he said. 

Besides the appointment of Tan Sri Azizan Ariffin as the new LTAT chairman and Mohammad Ashraf Md Radzi as the new LTAT chief executive effective April 1, he expressed confidence in the restructuring of LTAT. 

“We will make sure that all the plans will be successful based on things that we believe are good for the future of LTAT, besides protecting the interests of the contributors,” he said. 

In the meantime, when asked about the sale of Affin Bank Bhd’s shares to the Sarawak government, he said the matter would proceed and was just waiting for Bank Negara’s approval. – April 4, 2024