KARACHI - The Board of Directors of JS Value Fund Limited, (a closed-end equity fund) has approved interim cash dividend of 5pc, ie Re 0.50 per share, says a press release. In addition, JS Value Fund Limited reported a net income of over Rs 281 million for the nine months ended March 31, 2011. This translates into earnings per share of Rs 2.38. The net assets of the fund as at March 31, 2011 were Rs 1.286 billion. The NAV registered an increase of 28.10pc as opposed to 20.98pc increase witnessed in KSE-30 Index, thereby outperforming the benchmark by 7.12pc. This was announced in a meeting held on April 25th 2011, which approved the financial results for the period ended March 31, 2011. The above entitlement will be paid to the share holders whose names appear in the register of share holders on the close of business on May 23, 2011.