KARACHI: Dawood Capital Management has announced dividends for the year ended June 30, 2011. In its flagship fund, Dawood Income Fund (formerly Dawood Money Market Fund), the returns are 28.31% with a payout of bonus dividend to unit holders of Rs11.10 per unit on Net Asset Value of June 30, 2011 of Rs83.97. As an open-end fund, it can be encashed at any time, with a three to six-day notice. In the Islamic asset allocation fund, Dawood Islamic Fund, the returns are 13.45% with a dividend payout to unit holders of Rs10.5 per unit on Net Asset Value of June 30, 2011 of Rs83.97. Dawood Capital Management decided to split this dividend into 50% bonus with 5.16 bonus units per 100 units held and 50% cash of Rs5.25 per unit.
Published in The Express Tribune, August 3rd, 2011.