The trustee committee of the LankaBangla Gratuity Opportunities Fund has declared a 20% cash dividend or Tk2 per unit with a face value of Tk10 for the 2021-22 fiscal year.
According to a statement by the asset manager LankaBangla Asset Management Company, the annual earnings per unit (EPU) of the open-ended mutual fund was Tk2.49.
Of the annual earnings, 80.3% will be distributed among the fund's unit holders.
The record date to identify the entitled unit holders for the declared dividend has been set for 30 June 2022.
The asset manager expressed its optimism to be able to continue outperforming the market by navigating through ongoing challenging circumstances, and generate a healthy return for its investors in the future, reads the statement.
Mutual funds are collective investment tools that accumulate a capital from the public and the appointed professional asset manager invests in financial assets in compliance with the relevant rules.
Unlike closed-end funds, open-ended ones have no predetermined life and their units are not tradable on the stock exchanges. Instead, investors buy the fund units from the office of the asset manager or the authorised distributors.
Investors can surrender open-ended fund units to the asset manager at the present net asset value.