The board of directors of Habib Asset Management Limited has declared the first interim dividend for the year ending on June, 2008 for the Unit holders of First Habib Income Fund.
The board, in its meeting held on April 3, 2008, announced a cash dividend of Rs 7 per unit for the Unit holders having 'C' class of Units and 6.99 bonus units for every 100 units for other unit holders which comes to 9.3 percent p.a. on the opening ex-bonus NAV of Rs 100.17 per unit of July 1, 2007. The dividend will be paid on the basis of units held by an investor as on March 31, 2008. It may be noted that the units of First Habib Income Fund were offered to the general public on May 30, 2007 and the fund declared Bonus Dividend @ 1.5 bonus units for every 100 units held by an investor for the year ended on June 30, 2007 ie
for a period of one month.
The fund has earned a net income of Rs 179.2 million during the nine months period ended March 31, 2008. Out of these earnings Rs 177.2 million would be distributed to Unit holders. The total fund size as on March 31, 2008 stood at Rs 2.7 billion.-PR