The board of directors of JS Investments Limited, the Management Company of JS Growth Fund, a closed-end equity fund, has approved interim cash dividends of 7.5 percent, ie rupees 0.75 per certificate, a press release issued on Friday said.
In addition, JS Growth Fund reported a net income of over rupees 661 million for the nine months ended March 31, 2011. This translates into earnings per certificate of Rs 2.18. The net assets of the fund as at March 31, 2011 were Rs 3.3 billion. Net asset value per certificate registered a 24.7 percent increase during the nine month period ended March 31, 2011 compared to its benchmark KSE 30 Index which increased by 21 percent, thus outperforming the benchmark by 3.7 percent.
This was announced in a meeting held on April 21st 2011, which approved the financial results for the period ended March 31, 2011. The above entitlement will be paid to the certificate holders whose names appear in the register of certificate holders on the close of business on May 23, 2011.
Speaking on the occasion, Rashid Mansur, CEO of JS Investments said "We are incredibly pleased by this announcement, as we are able to repay the trust of our investors through our continuing endeavour to realise the financial goals of our investors. We have once again put forth our expertise in consistently delivering value to our stakeholders and hope to continue this strong performance into the close of the current financial year."-PR
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