Nigerian International Debt Fund Set to Pay Investors Dividends This Week

Nigerian International Debt Fund (NIDF), a mutual fund listed on the Nigerian Stock Exchange (NSE) would distribute dividend for the 2015 business year to its investors this week.

Investors in the mutual fund would receive N49 per note as the Fund Managers, Afrinvest Asset Management Limited, begin payment of final coupon for the 2015 financial year on February 3, 2016.

This represents the 36th coupon in the life of the Fund since its inception in 1997.

Managing Director, Afrinvest Asset Management Limited, Ola Belgore, said a total of N27. 17 million would be distributed among note holders on the register of the NIDF as of December 31, 2015 at N49 per note.

He noted that the second coupon payment was in line with the structure of the NIDF, which is designed to pay distributions twice a year, having paid an interim coupon of N38.21 in July 2015.

“NIDF offers investors safety, capital preservation, steady returns, diversification and value, and has a consistent dividend history making it quite attractive for both individual and institutional investors such as Pension Fund Administrators (PFAs), insurance companies, asset managers and gratuity funds,” Belgore said.

He pointed out that in 2015, the NIDF was rated “A-” by Global Credit Rating Company (GCR), which is currently among the best for mutual funds in the market.

Afrinvest Asset Management Limited is a subsidiary of Afrinvest West Africa Limited, a wealth advisory firm involved in investment banking, securities trading, asset management and investment research with a focus on West Africa.