On 27 February 2020, Maybank had announced in its 4th quarter 2019 results that it will be proposing a single-tier final cash dividend of 39 sen per ordinary share in respect of the financial year ended 31 December 2019 at the forthcoming Annual General Meeting of the Company (“AGM”) (“Final Cash Dividend”) for the approval of our shareholders. 

In light of the Covid-19 pandemic and the subsequent directive by the Malaysian government to refrain from holding a gathering of large numbers, Maybank’s AGM date is currently being deliberated and remains uncertain, as our foremost priority is to ensure the safety of all our shareholders, employees and other stakeholders during the pandemic.

The Company is of the view that the uncertainty over its AGM date (which also creates uncertainty over its payment date of its proposed Final Cash Dividend) is unfavourable to its shareholders, as the AGM date could be deferred as long as the heightened risk of the pandemic persists. As such, it would be in the interest of its shareholders for the Company to remove this uncertainty. 

To facilitate a timely dividend payment to its shareholders, Maybank is reclassifying the dividend from Final Cash Dividend to Second Interim Cash Dividend (“2nd Interim Cash Dividend”) (“Reclassification of Dividend”).  The Reclassification of Dividend to 2nd Interim Cash Dividend would provide certainty as to the payment date and not require approval of shareholders at an AGM, where the date of when it will be convened remains uncertain.  

The Company is of the view that the Reclassification of Dividend will not be prejudicial to the interest of Maybank’s shareholders as the quantum of dividend remains unchanged at 39 sen per ordinary share. 

Accordingly, the payment of the 2nd Interim Cash Dividend will be made on 6 May 2020. Please also refer to the announcement of the notice of book closure on 27 March 2020. 

This announcement is dated 27 March 2020.