Al Meezan announces dividend
Shabbir Kazmi KARACHI: Al Meezan Investment Management (Al Meezan) has announced the third interim dividends for its three fixed income funds namely Meezan Sovereign Fund (MSF), Meezan Islamic Income Fund (MIIF) and Meezan Cash Fund (MCF).
The payouts are in the form of Bonus Units to the Growth Unit holders and Cash Dividend to the Income Unit holders. A Growth Unit holder having 100 units of MSF as at March 28, 2011 will get 4.1992 additional units at the ex-dividend NAV of Rs50.01 while an Income Unit holder will get Cash Dividend of Rs2.10 per unit. MSF is the first Shariah compliant open end government securities fund in Pakistan. The annualized return for the period from January 01 to March 28, 2011 was 11.77 per cent. The current net assets of MSF are Rs10,159 million.
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