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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Ceybank Unit Trust pays Rs. 346 m as tax free dividend

Ceybank Unit Trust pays Rs. 346 m as tax free dividend

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CSE.SAS

CSE.SAS
Global Moderator
Ceybank Unit Trust, Sri Lanka’s largest equity linked Unit Trust Fund with net assets over Rs. 4.9 billion as at end March 2012 and managed by Ceybank Asset Management (Ceybank AM), has paid a tax free dividend of Rs. 2 per unit to its investors for FY 11/12, totalling Rs. 346 million. It paid Rs. 330 million as dividends in the previous year as well.

“We have capitalised on the volatility of the Colombo stock market to realise Rs. 799 million from share trading during the financial year,” Ceybank AM Executive Director and CEO Chitra Sathkumara said. “We realised Ceybank’s highest-ever capital gain of Rs. 1,132 m during the last financial year,” he added.

Ceybank AM, with the concurrence of the Trustee to the Fund, NSB, has decided to distribute Rs. 346 million from realised capital gains of Rs. 799 million as tax free dividends to all the registered unit holders of the fund as at 31 March. The unit holders have the option to reinvest this dividend in the fund without the usual 5% front-end fee.

Ceybank AM Chairman K.L. Hewage, who is also a Director of Bank of Ceylon, in his review stated: “Your fund is optimally invested in growth sectors of the market. We will continue to take gains at appropriate levels.”Ceybank Fund has realised more than Rs. 3,750 million as trading profits during the last 10 years.
Ceybank…

“Guided by the members of our Investment Advisory Panel and the Board who have wealth of experience in global business and finance, our fund managers have done a wonderful job to capitalise on the post war rally of the market,” Hewage added.

Ceybank Unit Trust is an investment opportunity designed to bring the best possible income as well as an appreciable growth while also entitling some tax benefits.

Ceybank AM is backed by Bank of Ceylon, Sri Lanka Insurance, Carson Cumberbatch, and Unit Trust of India.
NSB is the Trustee and SEC is the regulator of the unit trust industry.
http://www.ft.lk/2012/05/25/ceybank-unit-trust-pays-rs-346-m-as-tax-free-dividend/

sriranga

sriranga
Co-Admin
Ceybank Unit Trust pays Rs. 346 m as tax free dividend Div11

http://sharemarket-srilanka.blogspot.co.uk/

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