Al Meezan Investment Management Limited (Al Meezan) is pleased to announce the first interim dividends for its three fixed income funds: Meezan Islamic Income Fund (MIIF) - Rs 1.50 per unit, Meezan Cash Fund (MCF) - Rs 1.225 per unit and Meezan Sovereign Fund (MSF) - Rs 1.25 per unit. Fund, Dividend (Rs), % of par value of Rs 50/-, Meezan Islamic Income Fund (MIIF), 1.50, 3%, Meezan Cash Fund (MCF), 1.225, 2.45%, Meezan Sovereign Fund (MSF), 1.25, 2.5%.
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 September 29, 2010 will get 2.9499 additional units at the ex-div. NAV of Rs 50.85 while an Income Unit holder will get Cash Dividend of Rs 1.50 per unit.