KUALA LUMPUR (May 13): Life and general insurance provider Allianz Malaysia Bhd (KL:ALLIANZ) has declared a first interim dividend of 26.5 sen per share for the financial year ending Dec 31, 2024 (FY2024).

This is five sen lower than the 31.5 sen per share the group declared a year earlier.

The dividend’s ex-date is May 28, and it is payable on June 12, according to the group filing with Bursa Malaysia on Monday.

Allianz previously paid a dividend of RM1.005 sen per share and RM120.6 sen per irredeemable convertible preference share (ICPS) for FY2023, up from 85 sen per share and 102 sen per ICPS, respectively, in FY2022.

This marked the first time that both the group's ordinary shares and ICPS had breached 100 sen, with a total dividend payout amounting to RM381.75 million, according to the group's 2023 annual report released on April 30.

Allianz Malaysia’s net profit grew 19.1% to RM730.91 million for FY2023 from RM613.67 million in the previous year, as revenue expanded 11.83% to RM4.94 billion from RM4.42 billion. The group’s earnings were lifted by a better contribution from the life insurance segment.

Shares of Allianz Malaysia settled up eight sen or 0.37% to RM21.76 on Monday, giving the group a market capitalisation of RM3.87 billion. The counter has gained 18.39% year to date.