The board of directors of HBL Asset Management Limited (the management company) for HBL Income Fund, in their meeting held on Friday, announced dividend payout in the form of bonus units for the year ended June 30.
HBL Income Fund declared a bonus unit distribution at Rs 2.65 per unit, which entitles each eligible unit-holder to 0.02648 bonus unit for each existing unit held as on June 30. The unit-holders, who have opted to encash the bonus units at the ex-dividend net asset value (NAV), will receive cash payout based on ex-dividend NAV as of June 30.
HBL Income Fund started operation from March 19, 2007 with initial offer price of Rs 100. The NAV of the fund increased gradually and was Rs 102.73 as on June 30 before declaration of dividend. This gives an annual return or 9.58 percent. The ex-dividend price of unit after bonus issue was Rs 100.08. The total size of fund under management was over rupees five billion. The purchase and redemption of unit will resume from July 11.-PR