Board of Directors of Habib Asset Management Limited has declared the final dividend for the year ended June 30, 2009 for the unit holders of First Habib Income Fund (FHIF). The Board, in its meeting held on Saturday announced a final cash dividend of Rs 2.10 per unit for the unit holders having 'C' class of units and 2.0989 Bonus units for every 100 units for other unit holders.
The dividend will be paid on the basis of units held by an investor as on June 30, 2009. The fund managed to pay a total dividend of Rs 6.35 per unit for the year ended June 30, 2009 in spite of the fact that it was a very difficult year for the mutual fund industry due to the international economic situation and liquidity crunch in the market.
The fund has earned a net income of Rs 111.33 million during the year ended June 30, 2009. However, after taking into account the undistributed income from last year a sum of Rs 111.99 Million has been distributed to the unit holders. During the year 13,981,820 units of First Habib Income Fund were sold and 16,186,321 units were redeemed.
The fund has investments in T-bills (29.12 percent), TFC (31.94 percent), TDR's (32.44 percent), COI's (1.47 percent) and cash (5.03 percent). The units of First Habib Income Fund were offered to the general public on May 30, 2007 and this is the 6th dividend announcement since then.-PR