Afrinvest Asset Management Limited says its interim dividend for the Nigerian International Debt Fund investors has surpassed the estimated figure by over 50 per cent as a result of impressive performance by the fund.
The fund manager had in July announced that it would pay an interim dividend of N36 per note to investors in the NIDF, a Nigerian Stock Exchange-listed mutual fund.
At the time, the Managing Director, Afrinvest Asset Management Limited, Mr. Ola Belgore, was quoted as saying, “This is the 32nd coupon in the life of the fund which was launched in 1997. Since the NIDF is an open-ended fund, it is estimated that a minimum of N36.00 per note will be paid to note holders who are in the books of the NIDF on the closure date which is July 29, 2014.
“The interim distribution is in line with the structure of the NIDF, as the fund is designed to pay distributions twice a year, as indicated in the fund’s Trust Deed.”
However, the company explained in a statement made available to our correspondent on Sunday that as a result of impressive performance by the fund it commenced the payment of N60.71 interim dividend to NIDF investors on Wednesday, August 13.
The N60.71 being paid is N24.71 or 68.6 per cent higher than the projected dividend payment of N36 per note earlier announced.