NBAD Mena Fund delivers 2% dividend
Each unit in the fund will receive a dividend pay-out of Dh0.062538.
Abu Dhabi: The National Bank of Abu Dhabi's NBAD Mena Income and Growth Fund has earned dividend income equivalent to Dh2.7 million which equates to an annualised yield of 4.04 per cent during the period from August 7, 2015 to February 4, 2016.
Eligible investors who have successfully subscribed to the fund by February 4, 2016 are entitled for a semi-annual dividend distribution which equals to two per cent of the Net Asset Value, or NAV, of the fund as at February 4, 2016. Accordingly, each unit in the fund will receive a dividend pay-out of Dh0.062538.
The dividend payout will be based on the payout preference selected by the investor at the time of subscription. For those who selected the re-investment option, the dividends will be reinvested on February 7, 2016 and for those who have selected the cash payout option, the proceeds were to be credited into their NBAD bank account by the February 22.
"The global economic environment continues to be challenging with a knock-on impact on financial assets. In spite of such challenges, the fund is pleased to announce its semi-annual dividend distribution of 2 per cent. The yield on the fund remains above four per cent backed by relatively stable earnings growth," said Saleem Khokhar, head of Fund Management & Equities at NBAD's Global Asset Management.
Abu Dhabi main index gains for third straight session as telecom firm ... READ MORE
The UAE is Africa’s fourth-largest global investor with an... READ MORE
Abu Dhabi Sustainability Week 2021 consists of a series of high-level ... READ MORE
The acquisition will be another step towards cementing Agthia’s ... READ MORE
More than 24.2 million tests have been carried out. READ MORE
Dubai authorities tighten rules to keep residents, tourists safe from ... READ MORE
Number of recoveries higher than diagnosed coronavirus cases in the... READ MORE
Ministry of Education also issues salary cut warnings to those... READ MORE