Felcra to give out RM588m in dividends

KUALA LUMPUR, June 18 — About 83,000 Felcra participants will receive a windfall when Felcra announces its biggest dividend payout yet to the tune of RM588.15 million.

Rural and Regional Development Minister Tan Sri Muhammad Muhammad Taib said the dividend was up by 84.91 percent compared to last year’s RM318 million.

“This is the highest dividend due to increased productivity and more matured land,” he said at a news conference after meeting senior management of Felcra Berhad yesterday.

Present at the news conference were Felcra chairman Datuk Nasaruddin Hashim and its chief executive officer Nasir Baba.

Muhammad said the dividend would be paid out in the third week of July and made directly to the participants’ bank accounts.

He also said that from this year, Felcra would change the method of paying dividends from two times a year to four times according to the suitability and feasibility of a project.

“The increase in the number of times is hoped will help reduce the burden on Felcra participants due to the rise in prices of goods,” he said.

He said 6,077 hardcore poor participants would also receive Felcra dividends totalling RM22.14 million that would be paid out monthly beginning next month until June 2009.

He said each of them in Perak, Johor and Terengganu would receive between RM250 and RM300 a month whereas those in Malacca and Negri Sembilan would be decided by the respective state governments.

“Felcra is allocating 74 special plantations to be developed and the profits will be paid out as dividends to the hardcore poor,” he said. — Bernama

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