The National Bank of Abu Dhabi’s NBAD MENA Income and Growth Fund has earned dividend income equivalent to AED 2,832,060.85 which equates to an annualized yield of 4.00% during the period from 5th February, 2016 to 4th August, 2016.
Eligible investors who had successfully subscribed to the Fund by 4th August, 2016 were entitled for a semi-annual dividend distribution which equals to 2.00% of the net asset value (NAV) of the fund as at 4th August, 2016. Accordingly, each unit in the Fund will receive a dividend pay-out of AED 0.066836.
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 7th August, 2016 and for those who have selected the cash payout option, the proceeds will be credited into their NBAD bank account by the 22nd August, 2016.
NBAD’s Global Asset Management manages assets in excess of AED 8.4 billion, making it one of the largest of its kind in the UAE.