Business

Interim: Al Meezan announces dividends

Dividends announced for Al Meezan's Sovereign Fund, Cash Fund and Islamic Income Fund.

Express January 04, 2011 Less than a minute read

KARACHI: Al Meezan Investment Management Limited (Al Meezan) has announced second interim dividends for its three fixed income funds - Meezan Sovereign Fund (MSF) - Rs0.65 per unit, Meezan Cash Fund (MCF) - Rs1.25 per unit and Meezan Islamic Income Fund (MIIF) - Rs1 per unit.

The payouts are in the form of bonus units for growth unit holders and cash dividend for income unit holders. A growth unit holder having 100 units of MSF as on December 30, 2010 will get 1.2813 additional units at ex-dividend net asset value (NAV) of Rs50.73 while an income unit holder will get cash dividend of Rs0.65 per unit.

A growth unit holder having 100 units of MCF as on December 30, 2010 will get 2.498 additional units at ex-dividend NAV of Rs50.04 while an income unit holder will get cash dividend of Rs1.25 per unit.

A growth unit holder having 100 units of MIIF as on December 30, 2010 will get 1.9861 additional units at ex-dividend NAV of Rs50.35 while an income unit holder will get cash dividend of Rs1 per unit.

Published in The Express Tribune, January 4^th, 2011.