KARACHI: Al Meezan Investment Management Limited has announced fifth interim dividend payout for Meezan Cash Fund (MCF) at Rs0.58 per unit. According to a press release issued on Thursday, the payout is in the form of bonus units to growth unit-holders and cash dividend to income unit-holders. A growth unit-holder having 100 units of MCF on June 28 will get 1.16 additional units at ex-dividend net asset value of Rs50 while an income unit-holder will get cash dividend of Rs0.58 per unit. MCF, which is a Shariah-compliant open-ended money market fund, gave an annualised return of 11.01 per cent for the period ended June 27, 2011. Net assets of MCF currently stand at Rs5,800 million.
Published in The Express Tribune, July 1st, 2011.
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