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
Union Bankshares, Inc. is a one-bank holding company whose sole subsidiary is Union Bank. The Union Bank provides full retail, commercial, municipal banking, and asset management and trust services. The Company is providing retail banking services to individuals and commercial banking services to small and medium sized corporations, partnerships, and sole proprietorships, as well as nonprofit organizations, local municipalities and school districts within its market area. Its products and services include commercial loans for business purposes to business owners and investors for plant and equipment, working capital, real estate renovation and other sound business purposes; commercial real estate loans, including commercial construction loans; online mortgage applications; residential construction and mortgage loans, and online cash management services, including account reconciliation, credit card depository, automated clearing house origination, wire transfers and night depository.
UNB - Union Bankshares Inc
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