KARACHI, July 18: The management company of UTP-Income Fund (UTP-IF), ABAMCO Ltd, announced stock dividend (bonus) of 10.25 per cent, i.e. Rs51.25, which is the highest dividend payout by any fixed income fund for the financial year ended June 30, 2005. A press release issued by the company on Monday noted that after the appropriation of dividend, the net asset value (NAV) of UTP-Income Fund comes to Rs509.91. Upon distribution of the stock dividend, the unit-holders of UTP-Income Fund would receive 10.0507 units for every 100 units held by them.
The company observed that the total net profit of UTP-Income Fund for the year ended June 30, 2005 amounted to Rs129.93 million, which works out at Rs52.92 per unit.
