KUALA LUMPUR (Sept 29): Permodalan Nasional Bhd (PNB)'s Amanah Saham 1Malaysia (AS1M) will pay six sen per unit income distribution to 390,000 account holders who hold 12 billion units, involving a total payout of RM724.1 million, on Oct 1.

PNB chairman Tan Sri Abdul Wahid Omar said AS1M recorded a net income of RM600.47 million, a 16% growth from RM517.28 million in 2016, which is attributed to a stronger domestic equity market performance, particularly in the financial and services counters.

Last year, the fund manager paid 6.1 sen dividend. This is Amanah Saham Nasional Bhd's fifth fixed price unit trust fund that was launched on Aug 5, 2009.

"We are pleased to have sustained the dividend level of AS1M and the fund's stronger financial performance would allow us to build additional reserves to support future distribution," Wahid Omar said at the media briefing on PNB's third quarter performance.

The calculation is based on the average monthly minimum balance held throughout its financial year.

"The income distribution payment of AS1M will be reinvested into additional units and will be automatically credited into the unit holders' accounts on Oct 1," Wahid Omar added.