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The Trustee Committee of two closed-end mutual funds under management of AIMS of Bangladesh, the country's first private asset-management company (AMC), has approved dividends for the year ended on June 30, 2021.
The mutual funds are Grameen One: Scheme Two and Reliance One the first scheme of Reliance Insurance Mutual Fund.
The dividend approval came at a meeting of the Trustee Committee held on Sunday. The committee also approved the audited accounts for the year ended on June 30, 2021.
The record date has been set on September 20 for both the funds, according to a statement on Sunday.
Grameen One: Scheme Two: The Trustee Committee of Grameen One: Scheme Two has declared a 13 per cent cash dividend for the year ended on June 30, 2021.
The Trustee of the fund approved the dividend based on distributable net income of the fund for the year and accumulated reserve.
Following the declaration, the average dividend distributed by the fund in the last three years stood at 9.67 per cent.
The fund disbursed 7.0 per cent cash dividend last fiscal year despite economic shutdown due to the Covid-19 pandemic - which was the highest among the listed mutual funds in that year.
The earnings per unit (EPU) of the fund jumped to Tk 6.08 including unrealised gain for the year ended on June 30, 2021, from Tk 0.74 in the same period last year.
The net asset value (NAV) per unit at market price stood at Tk 20.82 against NAV per unit at cost price of Tk 11.64, generating 34.67 per cent return compared to that of Tk 15.46 in the same period of the previous year.
The asset value of the second scheme of Grameen Mutual Fund One has increased by 204 per cent since its inception in 2008.
The net operating cash flow per unit (NOCFPU) of the fund was Tk 1.16 for the year ended on June 30, 2021 as against Tk 0.85 for the same period of last year.
Each unit of the fund closed at Tk 21 on Sunday, losing 1.87 per cent over the previous day.
Reliance One: The Trustee of the fund also under management of AIMS has approved 10.5 per cent cash dividend for the year ended on June 30, 2021.
The Trustee of the fund has approved the dividend based on distributable net income of the fund.
Following the declaration, the average dividend distributed by the fund in the last three years stood at 6.83 per cent.
The fund has reported EPU of Tk 4.06 including unrealised gain increasing from the loss of Tk 0.04 per unit in the same period last year.
The NAV per unit at market price stood at Tk 14.76 against and NAV per unit at cost price of Tk 11.27, appreciating by 37.94 per cent from that of Tk 10.70 during the same period of the previous year.
The NOCFPU of the fund was Tk 0.70 for the year ended on June 30, 2021 as against Tk 0.40 for the same period of the previous year.
Each unit of the fund, which made debut on Dhaka Stock Exchange (DSE) in 2011, closed at Tk 13 on Sunday, remaining unchanged over the previous day.