LTAT pays out record high RM818.2M in dividends, bonus

PETALING JAYA (Feb 10, 2014): Lembaga Tabung Angkatan Tentera (LTAT) has given out a new record high in payout of dividends at a rate of 16% or RM818.2 million for its financial year ended Dec 31, 2013 to its eligible members.
The payout was a 7.8% increase compared to RM759.3 million it paid out in 2012.
"The 16% dividend and bonus comprise of 7% dividend, 1% bonus and 8% special bonus in the form of unit trusts for active members," it said in a statement last Friday.
LTAT also delivered its highest total income since its inception 41 years ago. Total income increased 19.1% to RM966.5 million from RM811.6 million in 2012.
The fund said average yearly dividend and bonuses paid out for the past 41 years was 11.2% per annum with an average of 15.4% for the past 10 years and 15% for the last five years.
As at Dec 31 2013, LTAT's total assets increased by 5.8% to RM9.1 billion compared with RM8.6 billion in the previous year while members' contribution stood at RM8.3 billion compared with RM7.8 billion last year.
Minister of Defence Datuk Seri Hishamuddin Tun Hussein said LTAT's consistent growth in its financial results over the years clearly reflects its commitment to its key stakeholder, the serving members of the armed forces.
"Given its track record and exceptional performance over the last 41 years, LTAT has outperformed itself in delivering strong yields.
"This has resulted in improved dividends and bonuses payout, not to mention, the extensive range of financial support and corporate responsibilities initiatives undertaken for its members," he said.
For the year ended Dec 31, 2013, LTAT said it paid out a total of RM827.4 million to 6,169 members upon completion of their services with the armed forces and RM14.2 million to 2,073 members who are eligible to purchase a residential house or land under the Housing Withdrawal Scheme.
"In addition, RM6 million was paid out to 237 members under the Death and Disability Benefits Scheme, of which, RM4.8 million was paid to195 dependants of deceased members as death benefits while RM1.2 million was paid to 42 members as disability benefits," it said.