LANGKAWI, June 19 (Bernama) -- Koperasi Telekom Malaysia Bhd (Kota Mas), the country's oldest cooperative, declared a dividend of 7.25 per cent or RM5.687 million for 2009, against RM5.151 million paid out in 2008.

Its Chairman, Ismail Nordin, said Kota Mas was able to maintain dividend payment for four consecutive years despite the recession.

"Kota Mas declared its highest dividend last year, since its inception in 1922, and we hope to maintain our dividend levels in future," he told reporters after Kota Mas's 79th annual general meeting on Saturday.

He said the cooperative reported nett profits of RM8.5 million in 2009 against RM8.1 million recorded in 2008.

Ismail said the cooperative involved itself in loan schemes, investments, tour agencies and real estate to derive income for its 16,400 members.

"Kota Mas declared its highest dividend last year, since its inception in 1922, and we hope to maintain our dividend levels to members," Ismail added.

He also said the cooperative was identifying several other businesses to increase earnings.

-- BERNAMA