The National Bank of Abu Dhabi (NBAD) distributed 2.40% dividend to NBAD MENA Income and Growth Fund investors with the option to reinvest the dividend in lieu of a cash payout.
The distribution equals 2.40% of the Fund’s net asset value (NAV) as of August 7, 2014. All those investors who successfully subscribed to the Fund on or prior to August 5, 2014 would be eligible for dividend distribution.
MIGF managers, created in 2006 and managed by NBAD’s Asset Management Group, elected to offer investors the Dividend Reinvestment Option allowing investors the choice to convert their dividend to units in the Fund.
“MIGF is a unique fund that offers investors exposure to income generating assets whilst also participating in capital appreciation potential of blue chip equities in the GCC region and UAE real estate,” said Saleem Khokhar, the Head of Equities at NBAD’s Asset Management Group. “Our strategy continues to yield very positive results for our clients.” NBAD’s Asset Management Group manages assets in excess of AED10.4 billion, making it one of the largest of its kind in the U.A.E.
Source : WAM News Agency for United Arab Emirates
