HSBC Saudi Arabia said its Islamic arm HSBC Amanah, has approved a dividend payment of $0.06 per unit for the first quarter translating in an annualized yield of 2.5 per cent at par value to its shareholders.  

Similarly, the board of HSBC Amanah GCC Equity Income Fund also approved a dividend payment of  SR0.25 per unit for the six months ending March 31, 2013 translating in an annualized yield of 5 per cent on par value.

The dividends will be paid, as per the terms and conditions of the funds, to the unit-holders of record on the last valuation dates of March 2013 for each fund.

The bank said both the HSBC Amanah Sukuk Fund and HSBC Amanah GCC Equity Income Fund are open ended and are managed by the asset management team at HSBC Saudi Arabia.

Osama Shaker, the managing director & Head of Financial Markets at HSBC Saudi Arabia said, "We are pleased with the distribution of dividends for the two funds, which reflects our strong commitment to deliver superior investment solutions and services to our clients via our dedicated team of investment professionals."-TradeArabia News Service