Daman funds declare dividend
Dubai, July 14, 2013
Daman Investments, one of the leading UAE-based regional investment management companies, has announced a record 14th consecutive quarterly dividend for its flagship Daman Second Emirates Fund.
The fund paid out a dividend of Dh1.5 for the second quarter of 2013, translating into an annualised dividend yield of 4.75 per cent as at the end of June 30. The NAV of the fund was Dh115.69.
Daman Fifth Fund also paid out a dividend of Dh1.50 for Q2 which equates to an annualised dividend yield of 4.2 per cent and finally Daman Islamic Fund also paid out Dh1.50 equating to an annualised yield of 2.7 per cent.
Shehab Gargash, chief executive officer of Daman Investments, said: "It is our strategy to continuously reward our investors via dividends that are within the funds. As we pointed out in our recent UAE market outlook report, we continue to believe that our markets are in a multi-year bull trend and as such the funds remain well placed to benefit from this uptrend.” – TradeArabia News Service