The ICB AMCL declared 16 per cent dividend on the ICB AMCL First Mutual Fund while Tk 12 per unit for ICB AMCL Unit Fund, six per cent for ICB AMCL Islamic Mutual Fund and Tk 9 per unit (including Tk 4.50 paid for the 1st half of FY 2005-2006) for ICB AMCL Pension Holders Unit Fund.

The dividends were approved at a meeting of the Board of Directors of the company held in Dhaka on Monday, says a press release.

Md Fayekuzzaman, chairman of the company, presided over the meeting, which was attended by, among others, Dina Ahsan, chief executive officer of ICB AMCL.

In FY 2005-2006, the ICB AMCL First Mutual Fund, ICB AMCL Unit Fund, ICB AMCL Islamic Mutual Fund and ICB AMCL Pension Holders' Unit Fund earned net profit of Tk 175.95 lakh, Tk 459.86 lakh, Tk 61.01 lakh and Tk 55.63 lakh respectively.

As on June 30 this year the above funds had net asset value (NAV) of Tk 123.14, Tk 122.41, Tk 102.23 and Tk 86.16 per unit respectively against face value of Tk 100.00 each.

The release said the ICB AMCL was established as part of restructuring programme of ICB under Capital Market Development Program initiated by the Bangladesh government and Asian Development Bank (ADB). The company became operational from July 1, 2002 by a government gazette notification.