EPF declares 4.5% dividen for 2008

Amazingly under the current situation, epf declares 4.5% dividen. It is far that what I expected and it is a good news to me. The article below is extracted from the star online.

PETALING JAYA: The Employees’ Provident Fund (EPF) Board declared a 4.5% dividend yesterday for its members, blaming the lower rate of returns on the global economic crisis.
EPF declared a 5.8% dividend in 2007.
However, despite the financial meltdown, EPF recorded its highest ever earnings of RM20bil in gross income last year, up 9.36% from the RM18.29bil recorded previously.
“While last year was challenging due to the unprecedented global financial crisis that has impacted economies worldwide, EPF’s investment portfolio for the year performed better at the gross income level compared to 2007.
“But due to the sharp decline in the equity markets, a large provision has to be made, resulting in marked reduction in net income,” said its chairman Tan Sri Samsudin Osman.
The dividends will be credited into members’ accounts on March 23