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Dividend Distribution Policy

Dividend Distribution Policy:

  1. The Fund shall declare and pay dividend to the unit holders from the distributable profit, if any.
  2. Unit holders, whose names will appear in the register/CDBL record on the record date to be announced each year, will be eligible to receive the dividend.
  3. The Fund shall as soon as may be, after the closing of the annual accounts, declare dividend to the unit holders in accordance with the সিকিউরিটিজ ও এক্সচেঞ্জ কমিশন ( মিউচুয়াল ফান্ড ) বিধিমালা, ২০০১. The amount of total dividend to be declared for the year shall not be less than 70 (seventy) percent for Closed end Mutual Fund and 50 (fifty) percent for Growth Fund of the total net profit earned in the respective year or as determined by the Commission from time to time and such dividend shall distribute within the stipulated time of the সিকিউরিটিজ ও এক্সচেঞ্জ কমিশন ( মিউচুয়াল ফান্ড ) বিধিমালা, ২০০১ and as per the Directive No. BSEC/CMRRCD/2021-386/03 dated 14 January 2021.
  4. The Fund shall pay off Cash Dividend through BEFTN or bank transfer or any other form specified by the Directive No. BSEC/CMRRCD/2021-386/03 dated 14 January 2021.
  5. Upon receiving claim on cash dividend from a stock broker or a merchant banker or a portfolio manager for a margin client or customer who has debit balance or margin loan, the Fund shall pay off such dividend as per the instruction laid down by the Directive No. BSEC/CMRRCD/2021-386/03 dated 14 January 2021.
  6. The Cash Dividend shall pay off to non-resident sponsor, director, shareholder, unit holder or foreign portfolio investor (FPI) through the security custodian in compliance with the rules or regulations in this regard.
  7. After disbursement of cash dividend RACE shall intimate to the unit holders regarding the dividend payment through short message service (SMS) to the unit holders’ mobile number mentioned in the CDBL record.
  8. Bangladesh RACE Management PCL shall dispatch the dividend warrants (if any) within the period stipulated by the সিকিউরিটিজ ও এক্সচেঞ্জ কমিশন ( মিউচুয়াল ফান্ড ) বিধিমালা, ২০০১ or by the Directive imposed by the Commission and shall submit a statement within next seven days to the Commission and the Trustee. Dispatching expenses stated above shall be met from the Fund of the Mutual Fund.
  9. If any cash dividend remains unpaid or unclaimed or unsettled including accrued interest thereon for a period of 3 (three) years from the date of declaration or approval or record date as the case may be, shall be transferred by Bangladesh RACE Management PCL to the Fund as directed or prescribed by the Commission: Provided further that if any unit holder claims his cash dividend after transfer of such dividend to the Fund, within 15 days of receiving such claims, RACE shall recommend to the manager of the Fund after proper verification shall pay off such cash dividend to the claimant in accordance with the provisions and procedures as directed or prescribed by the Commission.