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
World Financial Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund is a split share corporation, which invests in common equity securities selected from the ten largest financial services companies by market capitalization in each of Canada, the United States, and the rest of the world. The Fund’s investment objectives are to provide holders of preferred shares with fixed cumulative preferential quarterly cash distributions in the amount of $0.13125 per preferred share representing a yield on the issue price of the preferred shares of 5.25% per annum; to provide holders of Class A shares with regular quarterly cash distributions targeted to be 8.0% per annum; and to return the issue price to holders of both preferred shares and Class A shares at the time of redemption of such shares on the termination date. The Fund’s investment manager is Mulvihill Capital Management Inc. (Mulvihill).
WFS - World Financial Split Corp
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