Payout for funds: Al Meezan announces interim dividend

KARACHI: Al Meezan Investment Management Limited, an asset management company with total assets under management of over Rs33.8 billion, has announced interim dividend payout for Meezan Sovereign Fund (MSF) at Rs1.30 per unit and Meezan Cash Fund (MCF) at Rs0.40 per unit. According to a press release, the payouts are 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 December 21, 2011 will get 0.7998 additional units at ex-dividend net asset value of Rs50.01 while an income unit holder will get cash dividend of Rs0.40 per unit. A growth unit holder having 100 units of MSF on December 21, 2011 will get 2.5910 additional units at ex-dividend net asset value of Rs50.17 while an income unit holder will get cash dividend of Rs1.30 per unit. PRESS RELEASE

Published in The Express Tribune, December 27^th, 2011.