AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Al Meezan Investment Management Limited has declared interim dividend payouts for several of its funds for the fiscal year ending June 30, 2024. The Acting Chief Executive Officer, authorized by the Board, announced the dividends across seven different funds.
The payouts, as disclosed by Al Meezan, vary across their range of funds, reflecting a consistent return to unit holders registered by June 20, 2024. According to information available from the Pakistan Stock Exchange (PSX), the Meezan Cash Fund (“MCF”) and the Meezan Islamic Income Fund (“MIIF”) are set to distribute Rs. 10.54 and Rs. 10.52 per unit, offering returns of 21.08% and 21.04% respectively of the par value of Rs. 50 each. The Meezan Sovereign Fund (“MSF”) will provide a higher dividend of Rs. 11.14 per unit, which amounts to a 22.29% return.
Additionally, the MDIF – Meezan Munafa Plan I (“MDIF-MMP I”) has a payout rate of Rs. 8.83 per unit or 17.65%, while the MDIF – Meezan Sehl Account Plan (“MDIF-SEHL”) and MDIF – Meezan Super Saver Plan (“MDIF-MSSP”) offer dividends of Rs. 9.87 and Rs. 1.44 per unit, representing 19.74% and 2.88% returns respectively. The Meezan Gold Fund (“MGF”), targeting gold investments, will distribute Rs. 2.00 per unit, equivalent to a 4.00% return.
These financial measures are aimed at rewarding the shareholders of record by the close of business on the specified date. TRE Certificate Holders on the Exchange have been instructed to update their records to reflect these entitlements.