Al Meezan Investment Management Limited (Al Meezan) is pleased to announce Fourth Interim dividend payout for its three funds; Meezan Islamic Income Fund (MIIF) – Rs. 1.00 per unit, Meezan Sovereign Fund (MSF) – Rs. 0.88 per unit and Meezan Cash Fund (MCF) – Rs. 0.85 per unit.
| Fund | Dividend (Rs.) per unit | % of par value of Rs. 50/- | Total Payout- FY11 todate (Rs.per unit) | Total Payout FY11 todate ( % of par value of Rs.50/-) |
| Meezan Islamic Income Fund (MIIF) | 1.00 | 2.0% | 5.25 | 10.50% |
| Meezan Sovereign Fund (MSF) | 0.88 | 1.75% | 4.88 | 9.75% |
| Meezan Cash Fund (MCF) | 0.85 | 1.70% | 4.68 | 9.35% |
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 MIIF as at May 23, 2011 will get 1.9861 additional units at the ex-div. NAV of Rs. 50.35 while an Income Unit holder will get Cash Dividend of Rs. 1.00 per unit. A Growth Unit holder having 100 units of MSF as at May 23, 2011 will get 1.7593 additional units at the ex-div. NAV of Rs. 50.02 while an Income Unit holder will get Cash Dividend of Rs. 0.88 per unit. A Growth Unit holder having 100 units of MCF as at May 23, 2011 will get 1.6990 additional units at the ex-div. NAV of Rs. 50.03 while an Income Unit holder will get Cash Dividend of Rs. 0.85 per unit.
