ICB approves record dividends on all funds
Tuesday, 31 July 2007
FE Report
The Investment Corporation of Bangladesh (ICB) declared record dividends on its eight Mutual Funds and on the Unit Fund.
The rates of dividends are 240.00 per cent for the First Mutual Fund, 62.00 per cent for Second, 56.00 per cent for Third, 52.00 per cent for Fourth, 33.00 per cent for Fifth, 23.00 per cent for Sixth, 22.50 per cent for Seventh and 18.00 per cent for Eighth Mutual Fund and Tk 13.00 per unit on Unit Fund for the year that ended on June 30.
The rates of dividends were higher than the dividends paid on the respective funds in 2005-06.
The dividends were approved in a fund-related meeting of the board of directors of the Corporation held in the city Monday.
The rates of dividends for the year 2005-2006 were 210.00 per cent for the First Mutual Fund, 55.00 per cent for Second, 52.00 per cent for Third, 48.00 per cent for Fourth, 27.00 per cent for Fifth, 18.50 per cent for Sixth, 16.00 per cent for Seventh and 15.00 per cent for Eighth Mutual Fund and Tk 12.00 per unit on Unit Fund.
The First ICB Mutual Fund has declared the highest dividend of 240 per cent (190 per cent in cash and 50 per cent in stock) for the fifth consecutive year compared to other listed companies in the country. It is for the first time that a Mutual Fund has declared stock dividend (bonus shares) in the country.
During 2006-2007 the distributable net profit of the First Mutual Fund was Tk 3.46 billion, Second Mutual Fund Tk 1.27 billion, third Mutual Fund Tk 1.84 billion, Fourth Mutual Fund Tk 1.82 billion, Fifth Mutual Fund Tk 1.04 billion, Sixth Mutual Fund was Tk 2.07 billion, Seventh Mutual Fund Tk 1.52 billion and Eighth Mutual Fund Tk 2.04 million and ICB Unit Fund Tk 87 billion (8,783.25 lakh) respectively.
The Investment Corporation of Bangladesh (ICB) declared record dividends on its eight Mutual Funds and on the Unit Fund.
The rates of dividends are 240.00 per cent for the First Mutual Fund, 62.00 per cent for Second, 56.00 per cent for Third, 52.00 per cent for Fourth, 33.00 per cent for Fifth, 23.00 per cent for Sixth, 22.50 per cent for Seventh and 18.00 per cent for Eighth Mutual Fund and Tk 13.00 per unit on Unit Fund for the year that ended on June 30.
The rates of dividends were higher than the dividends paid on the respective funds in 2005-06.
The dividends were approved in a fund-related meeting of the board of directors of the Corporation held in the city Monday.
The rates of dividends for the year 2005-2006 were 210.00 per cent for the First Mutual Fund, 55.00 per cent for Second, 52.00 per cent for Third, 48.00 per cent for Fourth, 27.00 per cent for Fifth, 18.50 per cent for Sixth, 16.00 per cent for Seventh and 15.00 per cent for Eighth Mutual Fund and Tk 12.00 per unit on Unit Fund.
The First ICB Mutual Fund has declared the highest dividend of 240 per cent (190 per cent in cash and 50 per cent in stock) for the fifth consecutive year compared to other listed companies in the country. It is for the first time that a Mutual Fund has declared stock dividend (bonus shares) in the country.
During 2006-2007 the distributable net profit of the First Mutual Fund was Tk 3.46 billion, Second Mutual Fund Tk 1.27 billion, third Mutual Fund Tk 1.84 billion, Fourth Mutual Fund Tk 1.82 billion, Fifth Mutual Fund Tk 1.04 billion, Sixth Mutual Fund was Tk 2.07 billion, Seventh Mutual Fund Tk 1.52 billion and Eighth Mutual Fund Tk 2.04 million and ICB Unit Fund Tk 87 billion (8,783.25 lakh) respectively.