The Board of Directors of Habib Asset Management Limited, the management company of First Habib Income Fund, First Habib Stock Fund and First Habib Cash Fund has declared Final Dividend for the year ended June 30, 2011 for the Unit holders of its respective Funds.
FIRST HABIB INCOME FUND (FHIF): The Board, in its meeting held on July 4, 2011 announced Cash Dividend of Rs 3 per Unit for the Unit holders having 'C' class of Units and 2.9979 Bonus Units for every 100 Units on ex-bonus price of Rs 100.07 per Unit for other unit holders. The fund has earned a net income of Rs 161.95 million during the twelve-month period ended June 30, 2011. Out of these earnings Rs 125.19 million (Rs 7.5 per Unit) has already been distributed as 1st, 2nd and 3rd interim dividend and Rs 36.43 million will be distributed to unit holders as Final Dividend, thus making a total distribution of Rs 10.50 per Unit for the year ended June 30, 2011. This translates into an annualised return of 10.93 percent.
FIRST HABIB STOCK FUND (FHSF): The Board also announced a Cash Dividend of Rs 10 per Unit for the Unit holders having 'C' class of Units and 9.9890 Bonus Units for every 100 Units on ex-bonus price of Rs 100.11 per Unit for other unit holders. The fund has earned a net income of Rs 21.07 million during the twelve-month period ended June 30, 2011. Out of these earnings Rs 3.50 million (Rs 2.80 per Unit) has already been distributed as interim dividend and Rs 11.20 million will be distributed to unit holders as Final Dividend, thus making a total distribution of Rs 12.80 per Unit for the year ended June 30, 2011. The total return on investment including the appreciation in NAV amounts to 18.39 percent.
FIRST HABIB CASH FUND (FHCF): FHCF, which was launched on March 7, 2011 has completed almost four months of its operations. FHCF has already paid an interim dividend of Rs 0.50 per Unit for the first 22 days of its operations. The Board has now announced a Cash Dividend of Rs 3 per Unit for the Unit holders having 'C' class of Units and 2.9991 Bonus Units for every 100 Units on ex-bonus price of Rs 100.03 per Unit for other unit holders. The fund has earned a net income of Rs 19.57 million during the four-month period ended June 30, 2011. Out of these earnings Rs 2.79 million (Rs 0.50 per Unit) has already been distributed as interim dividend and Rs 16.60 million will be distributed to unit holders as Final Dividend, thus making a total distribution of Rs 3.50 per Unit for the period ended June 30, 2011 translating into an annualised return of 11.44 percent. The distribution will be paid on the basis of units held by a unit holder as on June 30, 2011.-PR