Vetiva ETF will pay dividends on the date

The Vetiva Griffin 30 Exchange Traded Fund (VG30 ETF) will on June 1, make a final distribution (dividend) of 10 kobo  to unit holders  for the year ended December 31, 2014. According to the fund managers, the unit holders to benefit are those whose names would be on the register as at 5.00 p.m.  on May 28. 

The  fund had last year made an interim distribution of 10 kobo.  The VG30 ETF is the first equity-based ETF to be listed on the Nigerian bourse.  It  is designed to track the performance of the constituent companies of the NSE 30 Index and to replicate the price and yield performance of the Index. The NSE 30 Index comprises the top 30 companies in terms of market capitalisation. 

The fund managers said:

“To enable our transfer agent (Central Securities Clearing System Plc), prepare for the payment of the final distribution the ETF’s register of unit holders will be cc,owed by 5 p.m on May 2015.” 

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VG30 ETF was listed following a successful completion of its Initial  Public Offering , which Cordros Capital Limited  handled as  the issuing house.  Managing Director of Vetiva Fund Managers Limited, the fund manager, of VG30 ETF, Mr. Damilola Ajayi, had explained that the fund was developed in line with the growing ETF industry to give investors optimal exposure to the Nigerian bourse by tracking the movement of the NSE 30 index.  “The NSE30 Index securities represents a convenient investment vehicle for exposure to the Nigerian equities market via a single security,” he said.