Public Bank declares cash dividend for FY2011

Public Bank has declared a cash dividend of 48 sen per share for financial year ended Dec 31, 2011.

The increase from the previous amount of 45.5 sen per apiece covering the previous financial year was attributed to the strong performance.

The total dividend amounted to RM1.68 billion, representing a total payout of 48 per cent of the group's net profit last year.

Chairman Tan Sri Teh Hong Piow said the banking group was expected to maintain its earning momentum and continue to record satisfactory performance this year, supported by growth in home mortgages, passenger vehicle hire purchase financing and retail customer loans.

"The group's solid performance in 2011 reaffirms the continued soundness of its proven business strategies.

"The bank will continue to sustain its market leadership position in domestic lending for residential mortgages, commercial property financing and passenger vehicle financing," he said at the group's annual general meeting here today.