Al Meezan Investment Management Limited (Al Meezan) Wednesday announced interim dividend payout of Rs 2, Rs 0.40 and Rs 1.30 per unit for Meezan Islamic Income Fund (MIIF), Meezan Cash Fund and Meezan Sovereign Fund (MSF), respectively.
The payouts are in the form of bonus units to the growth unit holders and cash dividend to the income unit holders, said Al Meezan in a statement.
A growth unit holder having 100 units of MIIF as at March 20 will get 3.9912 additional units at the ex-dividend NAV of Rs. 50.11 while an Income Unit holder will get Cash Dividend of Rs. 2.00 per unit. A Growth Unit holder having 100 units of MCF as at March 20, 2012 will get 0.7998 additional units at the ex-dividend NAV of Rs. 50.01 while an Income Unit holder will get Cash Dividend of Rs. 0.40 per unit.
A Growth Unit holder having 100 units of MSF as at March 20, 2012 will get 2.5912 additional units at the ex-dividend NAV of Rs. 50.17 while an Income Unit holder will get Cash Dividend of Rs.1.30 per unit. MIIF is the first Shariah compliant open-end income fund in Pakistan. At the close of the period March 20, 2012, the net assets of MIIF were Rs 1.284 billion. MCF is the largest Shariah compliant open-end money market fund with its net assets, by March 20, standing at Rs 7.703 billion. MSF is the largest Shariah compliant open-end government securities fund which’s, at the close of the period March 20, saw its net assets accumulating to Rs 19.918 billion.
