Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
Coventry Group Limited is an Australia-based company, which delivers industrial solutions to the mining, construction and manufacturing sectors. It supplies a range of fastening systems, cabinet hardware systems, hydraulics, lubrications, fire suppression, refueling systems and other products. It principally distributes industrial products and services throughout Australia and New Zealand. The Company has two segments. The Trade Distribution segment includes the importation, distribution and marketing of industrial fasteners, industrial hardware supplies and associated products, temporary fencing and cabinet making hardware. The Fluid Systems segment includes the designing, manufacturing, distribution, installation and maintenance of lubrication and hydraulic fluid systems and hoses. The Company’s brands include Cooper Fluid Systems, Torque Industries, H.I.S. Hose, Fluid Power Services, Nubco, Konnect Fastening Systems, Artia Cabinet Hardware Systems and Goudie Holdings Limited (GHL).
CYG - Coventry Group Ltd
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