Five mutual funds declare no dividend

Trustee committees of five listed mutual funds have declared no dividend for the year ended on June 30, 2020, according to the Dhaka Stock Exchange (DSE) website on Sunday.

They are -- EBL NRB Mutual Fund, Popular Life First Mutual Fund, PHP First Mutual Fund, AB Bank First Mutual Fund and Asian Tiger Sandhani Life Growth Fund.

However, the trustee committee of Grameen Mutual Fund Scheme-2 has decided to distribute seven per cent cash dividend taking into consideration available fund for distribution of profit for the year ended on June 30, 2020. The record date is September 6.

It has reported earnings per unit (EPU) of 0.74 taka, net asset value (NAV) per unit at the market price of 15.46 taka, net asset value (NAV) per unit at cost of 11.14 taka and net operating cash flow per share (NOCFPU) of 0.85 for the year ended on June 30, 2020 as against 1.12 taka, 19.72 taka, 11.28 taka and 1.13 taka respectively for the same period of the previous year.

On Sunday, there will be no price limit on the trading of the units of the fund following its corporate declaration. However, as per the BSEC order No. BSEC/CMRRCD/2001-07/04 issued on March 19, 2020, the floor price shall be applicable accordingly.

sik/teb