Al Meezan announces fourth interim dividend pay-out for its funds

Al Meezan Investment Management Limited (Al Meezan) is pleased to announce Fourth Interim dividend pay-out 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.
The pay-outs 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.
Meezan Islamic Income Fund (MIIF) is the first and the largest Shariah compliant open-end income fund in Pakistan. The annualised return for the period from April 1 to May 21, 2011 was 15.95%. The current net assets of MIIF are Rs 2,540 million.
Meezan Sovereign Fund (MSF) is the first Shariah compliant open-end government securities fund in Pakistan. The annualised return for the period from April 1 to May 21, 2011 was 12.19 percent. The current net assets of MSF are Rs 10,716 million. Meezan Cash Fund (MCF) is the first Shariah compliant opened money market fund in Pakistan. The annualised return for the period from April 1 to May 21, 2011 was 11.76 percent. The current net assets of MCF are Rs 5,786 million.

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Fund                   Dividend (Rs)    % of par      Total Payout      Total Payout
                         per unit      value of Rs     FY11 todate       FY11 todate
                                           50/-       (Rs per unit)  (% of par value
                                                                         of Rs 50/-)
Meezan Islamic Income      1.00            2.0%            5.25               10.50%
Fund (MIIF)
Meezan Sovereign Fund      0.88           1.75%            4.88                9.75%
(MSF)
Meezan Cash Fund (MCF)     0.85           1.70%            4.68                9.35%
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