FIRST ALLIED BANK MODARABA
Aug 17 - 23, 1996The First Allied Bank Modaraba, (FABM) also paid out well; a cash dividend of 22.5% was announced by the board of directors in their recent meeting. With the certificate trading at Rs 6.90, this translates to a 32.61% dividend yield, higher even than that of the LTV Modaraba.
The FABM posted an operating profit of Rs 80 million for the year ended June 30, 1996; this figure for the six months ended June 30, 1995 was almost Rs 19 million. Operating expenses for the year were Rs 4.2 million and Rs 1.6 million for the previous six months. On the income side, profit on leases were Rs 10 million, profits on Morabaha were Rs 16 million, profit on Musharika were Rs 39 million and profit on trading was Rs 3.1 million.