FAB announces Sukuk Income Fund earnings
Abu Dhabi Bank’s NBAD
ABU DHABI - Emirates Voice
First Abu Dhabi Bank’s NBAD Sukuk Income Fund has earned dividend income equivalent to US$ 816,662.02, which equates to an annualised yield of 2.44% during the period from 15th December, 2016 to 5th July, 2017.
Eligible investors who had successfully subscribed to the fund by 5th July, 2017, were entitled to a semi-annual dividend distribution which equals to 2.222% of the net asset value of the fund as at 5th July, 2017. Accordingly, each unit in the fund will receive a dividend pay-out of US$ 0.106747866.
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 were reinvested on 12th July, 2017, and for those who selected the cash payout option, the proceeds will be credited into their FAB bank account by the 30th July, 2017.
FAB’s Global Asset Management manages assets in excess of AED7.05 billion, making it one of the largest of its kind in the UAE.
Source : Wam
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