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
S Split Corp. (the Fund) is a Canada-based mutual fund corporation. The Fund is a split share corporation designed to provide preferred shareholders with fixed cumulative preferential monthly distributions of approximately 5.25% annum and the Class A shareholders with monthly distributions targeted to be 6% annum on the net asset value of the Fund and return the original issue price of both classes on the termination date of the Fund. To accomplish its objectives, the Fund invests in common shares of The Bank of Nova Scotia (BNS) and may also invest up to 10% of its net assets in purchase call options in respect of securities in which the Fund is permitted to invest. Mulvihill Asset Management Inc. (Mulvihill), as the Investment Manager of the Fund
SBN - S Split Corp
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