KARACHI, July 5: Arif Habib Investments (AHI) —- the management company of Pakistan Stock Market Fund (PSM) and Pakistan Income Fund (PIF) — says the two funds have announced handsome dividends.

The holders of PSM units would get a bonus dividend of Rs25 per unit for the year ending on June 30, 2005, a press release issued by the company said. They have already received Rs10 per unit cash dividend announced in February this year. This translates into a total of Rs35 or 70 per cent earning on PSM units of Rs50 face value.

The PIF has also declared a bonus dividend of Rs4.80 per unit. This translates into 9.6 per cent dividend on the PIF unit of Rs50 face value.

The press release said that dividends on PSM and PIF units had been announced in the light of their review reports by external auditors. The board of directors of the two funds discussed the review reports at a meeting on Monday.

Arif Habib Investments said that the net asset value of PSM had shown a growth of Rs43.11 per unit, rising from Rs81.99 to Rs115.10. It said that the NAV of PIF went up from Rs50.03 to Rs54.85 per unit during the financial year ending on June 30, 2005.