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FAB sukuk income fund yields 2.44pc earning

ABU DHABI, July 27, 2017

First Abu Dhabi Bank’s NBAD Sukuk Income Fund has earned dividend income equivalent to $816,662.02 which equates to an annualised yield of 2.44 per cent during the period from December 15, 2016 to July 5, 2017.

Eligible investors who had successfully subscribed to the Fund by July 5 were entitled to a semi-annual dividend distribution which equals to 2.222 per cent of the net asset value (NAV) of the fund as at July 5. Accordingly, each unit in the Fund will receive a dividend pay-out of $ 0.1067.

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 July 12 and for those who have selected the cash payout option, the proceeds will be credited into their FAB bank account by July 30.

FAB’s Global Asset Management manages assets in excess of Dh7.05 billion ($1.9 billion), making it one of the largest of its kind in the UAE. – TradeArabia News Service




Tags: Sukuk Income Fund |

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