Managers of the Vetiva Griffin 30 Exchange Traded Fund,ETF, Vetiva Fund Managers Limited, last week, announced the final distribution of 15 kobo per share unit for the full-year ended December 31, 2015.
The qualification date for the distribution will be Monday, 20th of June while payment will be 24th June 2016. The final distribution follows an interim dividend of 12 kobo, bringing the total dividend to 27 kobo for 2015 financial year. This is an improvement on the 20 kobo dividend paid in respect of 2014.
Managing Director of Vetiva Fund Managers Limited, Mr. Damilola Ajayi, who spoke on the distribution, said: “The final distribution is in line with the structure of the fund to remit distributions to unit holders twice a year. Also, the VG 30 ETF continues to represent a convenient investment vehicle for exposure to the Nigerian equities market via a single security.”
In order to provide an alternative investment window for investors, the first ETF was launched on the Nigeria bourse in December 2011.
The NSE had explained that it was using the ETF product category to open up cost-effective diversification opportunities for investors, while giving the broker-dealer community an instrument to better service their clientele.
