PTPTN declares 4.05% dividend for Simpan SSPN scheme, highest in a decade
Higher education minister Zambry Abdul Kadir (second from left) and PTPTN CEO Norliza Abdul Rahim (left) holding up the placards announcing the Simpan SSPN dividends. (PTPTN pic)
PUTRAJAYA : The National Higher Education Fund Corporation (PTPTN) has declared a 4.05% dividend for Simpan SSPN for 2024, the highest rate recorded in the last 10 years.
Higher education minister Zambry Abdul Kadir said the dividend, which involves a total distribution of RM439.87 million, would benefit some 6.77 million depositors.
He said since the scheme was introduced in 2004, the total dividends distributed came up to RM2.12 billion.
In 2023, PTPTN declared a dividend of 3.60%.
Zambry said the dividend declared in 2024 highlighted PTPTN's efficiency in managing funds to ensure optimum returns for its clients.
He said the increase in dividends was also due to long and short-term shariah-compliant investment strategies which not only ensure higher returns but were inline with its principles.
'The declaration of a 4.05% dividend also highlights a positive return of investment when compared with the 3.0% overnight policy rate set by Bank Negara Malaysia,' he said when announcing Simpan SSPN dividends for 2024 and launching the Ganjaran Kesetiaan Simpan SSPN Prime 2025, here.
Also present were deputy minister of higher education Mustapha Sakmud, PTPTN chairman Norliza Abdul Rahim and the fund's CEO Ahmad Dasuki Abdul Majid.
According to PTPTN, the dividends will be banked directly into the Simpan SSPN accounts and depositors can check their statements via the myPTPTN app from May 2 onwards.
Last year, Simpan SSPN received total deposits of RM3.17 billion, while over 500,000 new accounts were opened.
'The figure represents an increase of RM24.37 million or 0.77% compared to the RM3.15 billion declared in 2023.
'The total deposits collected as of Dec 31, 2024 was RM20.56 billion involving some 6.77 million accounts. It is an achievement to be proud of as well as proof that the public support for the SSPN scheme remains strong.'
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