JS Value Fund Limited approves interim cash dividend of five percent

The Board of Directors of JS Value Fund Limited, (a closed-end equity fund) has approved interim cash dividend of 5%, ie Re. 0.50 per share. In addition, JS Value Fund Limited reported a net income of over Rs 281 million for the nine months ended March 31, 2011. This translates into earnings per share of Rs 2.38. The net assets of the fund as at March 31, 2011 were Rs 1.286 billion.
The NAV registered an increase of 28.10% as opposed to 20.98% increase witnessed in KSE-30 Index, thereby outperforming the benchmark by 7.12%. This was announced in a meeting held on Monday, which approved the financial results for the period ended March 31, 2011. The above entitlement will be paid to the shareholders whose names appear in the register of shareholders on the close of business on May 23, 2011.-PR