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Kuala Lumpur: The Employees Provident Fund (EPF) will declare its 2024 dividend payout this Saturday, a source said amid expectations of higher returns following strong investment performance.

According to The Star, the source from the EPF also said a formal invitation to the media will be sent out on Wednesday.

Second Finance Minister Datuk Seri Amir Hamzah Azizan previously said EPF contributors can expect better dividend distribution for 2024 against 2023, given the fund’s strong performance last year.

For 2023, EPF declared dividends of 5.5 per cent for conventional savings and 5.4 per cent for syariah savings, slightly higher than the previous year despite global economic uncertainties.

The higher anticipated returns are attributed to positive performance in equity markets and stable fixed-income investments throughout 2024.

EPF, which manages retirement savings for over 15 million members, is among Malaysia’s largest institutional investors and has a diversified portfolio in domestic and global markets.