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
IGM Financial Inc. is a Canada-based diversified wealth and asset management company. The Company operates through three segments: Wealth Management, Asset Management and Strategic Investments and Other. The Wealth Management segment includes the activities of operating companies that are principally focused on providing financial planning and related services to Canadian households. This segment includes the activities of IG Wealth Management and Investment Planning Counsel. The Asset Management segment includes the activities of operating companies primarily focused on providing investment management services and represents the operations of Mackenzie Investments. The Strategic Investments and Other segment primarily represents the key strategic investments made by the Company, including China Asset Management Co., Ltd., Great-West Lifeco Inc., Northleaf Capital Group Ltd., Wealthsimple Financial Corp., and Portag3 Ventures LPs, as well as unallocated capital.
IGM - IGM Financial Inc
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