Dhaka, Bangladesh (BBN) – Trustee Committee of two closed-end mutual funds – NLI 1st Mutual Fund and Southeast Bank 1st Mutual Fund have declared 14 percent and 13 percent cash dividends for the year ended on June 30, 2016, said separate official disclosures on Monday.
VIPB Asset Management Company is one of the leading firms in the mutual fund industry is managing these two mutual funds.
NLI 1st Mutual Fund: The Trustee Committee of the NLI First Mutual Fund has declared 14 percent cash dividend for the year ended on June 30, 2016.
The record date for entitlement of cash dividend is on August 22.
The Fund has reported earnings per unit (EPU) of BDT 1.69, net asset value (NAV) per unit at market price of BDT 14.26, NAV per unit at cost of BDT 13.11 and net operating cash flow per unit (NOCFPU) of BDT 1.70 for the year ended on June 30, 2016 as against BDT 1.50 BDT 13.03, BDT 12.71 and BDT 1.59 respectively for the same period of the previous year.
Southeast Bank 1st Mutual Fund: The Trustee Committee of the Southeast Bank First Mutual Fund has declared 13 percent cash dividend for the year ended on June 30, 2016.
The record date for entitlement of cash dividend is on August 22.
The Fund has reported earnings per unit (EPU) of BDT 1.44, net asset value (NAV) per unit at market price of BDT 13.39, NAV per unit at cost of BDT 12.48 and net operating cash flow per unit (NOCFPU) of BDT 1.45 for the year ended on June 30, 2016 as against BDT 1.41 Tk 12.54, BDT 12.29 and BDT 1.53 respectively for the same period of the previous year.
There will be no price limit on the trading of the units of the Fund today following its corporate declaration.
The Trustee of these two Funds has requested the unit holders to update their respective BO accounts with 12 digits e-TIN through their DP before the record date.
Individual unit holder failing to do so will be subject to deduction of Advance Income Tax (AIT) at 15 percent instead of 10 percent. The concerned merchant banks and all depository participants (DPs) are also requested to provide a statement with the details of their margin loan holders who hold units of the fund as on the Record Date by August 25, 2016.
Sunday’s closing price of each unit of NLI First Mutual Fund was BDT 12.40, while Southeast Bank First Mutual Fund was BDT 11.30.
Southeast Bank First Mutual Fund was inception in 2011 in Dhaka bourse, while NLI First Mutual Fund hit in 2012 in Dhaka bourse.
BBN/AD/SR