Mohd Na’im (second from right), TH chairman Tan Sri Abdul Rashid Hussain (second from left) and Syed Hamadah (right) at the 2024 TH profit announcement ceremony (Source: Media Mulia)
LEMBAGA Tabung Haji (TH) (an equivalent of NAHCON’S Hajj Saving Scheme) has announced a 3.25% dividend for the financial year 2024 (FY24), its highest rate since 2018, with a total distribution of RM2.92 billion benefitting more than 9.54 million depositors.
The announcement was made by Minister in the Prime Minister’s Department (Religious Affairs) Datuk Dr Mohd Na’im Mokhtar, who attributed the improved rate to strong economic and market performance, and prudent cost management.
The 3.25% dividend includes a zakat payment of 2.5775%, amounting to RM99.35 million, which TH has paid on behalf of depositors, relieving them of the obligation to pay zakat on their savings and dividends. Since its establishment, TH has paid RM1.47 billion in zakat.
In 2024, TH recorded a 6.29% increase in total income to RM4.56 billion, with an investment return of 5.08% before zakat, haj financial assistance and operating costs.
The latest dividend marks an increase from the 3.1% rate maintained over the past four years, making 2024 TH’s best financial performance in seven years.
TH CEO Datuk Syed Hamadah Syed Othman said the higher dividend was driven by strong capital market performance and a disciplined investment strategy based on strategic asset allocation.
“Fixed income instruments were the largest contributors, accounting for 50% of total income, while equities contributed 35%, supported by a strong domestic stock market,” he said.
Domestic investments made up 91.06% of TH’s total income in 2024.
At the same time, TH reduced operational costs, with total operating expenditure, including haj financial assistance, decreasing by 4.62% compared to the previous year.
To date, TH has distributed RM45.79 billion in dividends over its 61-year history.
The institution has also facilitated haj pilgrimages for over 1.5 million Malaysian Muslims since its inception and provided RM2.8 billion in Hajj Financial Assistance since 2001.
In 2024 alone, TH distributed zakat aid through the Zakat Wakalah programme to over 670,000 recipients, benefitting more than 2.2 million asnaf, including the hardcore poor.
Dividend payments will be credited to depositor accounts starting March 24, 2025, and can be checked via THiJARI, Tabung Haji counters, or strategic partner banks including Bank Islam, Bank Rakyat, Maybank Islamic, CIMB Islamic and AmBank Islamic.
Source: Malaysianreserve
