Thursday 27, July 2017 by Georgina Enzer

FAB announces its Sukuk income fund earnings

First Abu Dhabi Bank’s NBAD Sukuk Income Fund has earned dividend income equivalent to $816,662.02 which equates to an annualised yield of 2.44 per cent during the period from 15th December, 2016 to 5 July, 2017.

Eligible investors who had successfully subscribed to the Fund by 5 July, 2017 were entitled to a semi-annual dividend distribution which equals to 2.222 per cent of the net asset value (NAV) of the fund as at 5 July, 2017. Accordingly, each unit in the Fund will receive a dividend pay-out of $0.106747866.

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 12th July, 2017 and for those who have selected the cash payout option, the proceeds will be credited into their FAB bank account by the 30th July, 2017.    

FAB’s Global Asset Management manages assets in excess of AED 7.05 billion, making it one of the largest of its kind in the UAE.

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