NBAD Mena Fund de­liv­ers 2pc div­i­dend

The Pak Banker - - COMPANIES/BOSS -

ABU DHABI: The Na­tional Bank of Abu Dhabi's NBAD Mena In­come and Growth Fund has earned div­i­dend in­come equiv­a­lent to Dh2.7 mil­lion which equates to an an­nu­alised yield of 4.04 per cent dur­ing the pe­riod from Au­gust 7, 2015 to Fe­bru­ary 4, 2016. El­i­gi­ble in­vestors who have suc­cess­fully sub­scribed to the fund by Fe­bru­ary 4, 2016 are en­ti­tled for a semi-an­nual div­i­dend dis­tri­bu­tion which equals to two per cent of the Net As­set Value, or NAV, of the fund as at Fe­bru­ary 4, 2016. Ac­cord­ingly, each unit in the fund will re­ceive a div­i­dend pay-out of Dh0.062538. The div­i­dend pay­out will be based on the pay­out pref­er­ence se­lected by the in­vestor at the time of sub­scrip­tion. For those who se­lected the re-in­vest­ment op­tion, the div­i­dends will be rein­vested on Fe­bru­ary 7, 2016 and for those who have se­lected the cash pay­out op­tion, the pro­ceeds were to be cred­ited into their NBAD bank ac­count by the Fe­bru­ary 22. "The global eco­nomic en­vi­ron­ment con­tin­ues to be chal­leng­ing with a knock-on im­pact on fi­nan­cial as­sets. In spite of such chal­lenges, the fund is pleased to an­nounce its semi-an­nual div­i­dend dis­tri­bu­tion of 2 per cent. The yield on the fund re­mains above four per cent backed by rel­a­tively sta­ble earn­ings growth," said Saleem Khokhar, head of Fund Man­age­ment & Eq­ui­ties at NBAD's Global As­set Man­age­ment.

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