The New Nation - Internet Edition

BUSINESS REPORT

Investment Corporation of Bangladesh (ICB) has declared dividends on its eight Mutual Funds and on the Unit Fund. The rates of dividends are 265 per cent for the First Mutual Fund, 75 per cent for Second, 65 per cent for Third, 60 per cent for Fourth, 45 per cent for Fifth, 30 per cent for Sixth, 30 per cent for Seventh and 25 per cent for Eighth Mutual Fund and Tk 20 per unit on Unit Fund for the year ended June 30, 2008.

These rates of dividends are higher than the dividends paid on the respective funds in 2006-07. The dividends were approved in a fund related meeting of the Board of Directors of the corporation held yesterday.

The rates of dividends for the year 2006-2007 were 240 per cent (190 per cent in cash and 50 per cent in stock for the First Mutual Fund, 62 per cent for Second, 56 per cent for Third, 52 per cent for Fourth, 34 per cent for Fifth, 23 per cent for Sixth, 22.50 per cent for Seventh and 18 per cent for Eighth Mutual Fund and Tk 13 per unit on Unit Fund).

During 2007-2008 the distributable profit of the First Mutual Fund was Tk 473.89 lac, Second Mutual Fund was Tk 149.69 lac, Third Mutual Fund was Tk 221.12 lac, Fourth Mutual Fund was Tk 216.20 lac, Fifth Mutual Fund was Tk 151.21 lac, Sixth Mutual Fund was Tk 306.69 lac, Seventh Mutual Fund was Tk 212.69 lac, Eighth Mutual Fund was Tk 212.99 lac and ICB Unit Fund was Tk 12,019 lac respectively.

The Board of Directors acknowledged with praise that prudent and meticulous management (of the portfolios of these funds enabled declaration of excellent dividend. The dividend performance is the manifestation of high degree of professionalism and expertise.

The Board of Directors expressed gratitude to the investors as well as to SEC and other concerned institutions for their unflinching support and guidance.