Bank Islam declares 10.40 sen interim dividend for FY2022
05 Dec 2022 08:37pm
Bank Islam has also determined that the dividend reinvestment plan (DRP) would apply to the entire interim dividend. - FILE PIX
In a statement today, the bank said BIMB has also determined that the dividend reinvestment plan (DRP) would apply to the entire interim dividend, providing the shareholders of BIMB with an option to reinvest the dividend into new ordinary shares of BIMB.
On Jan 20, 2022, the bank paid an interim dividend of 10.93 sen per share, amounting to RM226.9 million, for the previous financial year ended Dec 31, 2021.
From the total dividend amount, around 12 per cent or RM 27.6 million was distributed as cash dividend while the remaining 88 per cent, amounting to RM199.3 million, was reinvested to subscribe for 79.40 million new shares at RM2.51 each via the DRP.
It said the new shares were listed on Jan 21, 2022.
Bank Islam Group chief executive officer Mohd Muazzam Mohamed said being predominantly retail-driven, BIMB continues to build on its core strengths, sustaining its secured payment financing model while building strategic partnerships with targeted organisations.
"In advancing our goals to become future-ready, we have embarked on the second phase of our four-year IT Blueprint to uplift BIMB’s ways of working.
"The move also enables us to strengthen our IT infrastructure effectively while focusing on improving customer experience and delivering business objectives,” he said.
BIMB also remains committed to realising its five-year business strategic plans to become the champion in shariah-environmental, social, and governance (ESG) total financial solutions with leadership in digital banking and social finance.
As part of its sustainability journey and ESG commitment, Mohd Muazzam said BIMB is expanding its green financing portfolio and widening its exposure to new green segments such as energy efficiency, net energy metering, office automation and waste management.
"To date, we have approved around RM2.9 billion in green financing for projects in renewable energy, sustainable waste management, public transportation, and green manufacturing.
"We have set an aspirational target to increase green financing portfolio to RM4 billion by 2025,” he said.
In achieving the target, Mohd Muazzam said BIMB is actively pursuing climate finance by developing targeted products, including low-carbon transition financing for small and medium entrepreneurs (SMEs) and ESG-linked financing for corporates embarking on business transformation towards low-carbon operations. - BERNAMA
