Mutual funds - Upcoming Dividends - 22 March 2008

Lotus India MF declares dividend

The Lotus India mutual fund has announced the declaration of dividend under retail quarterly dividend option of Lotus India Active Income Fund. The record date for dividend will be 18 March 2008. The dividend proposed to be declared is 2.5% i.e. Re. 0.25 per unit on a face value of Rs.10 per unit. The NAV of the retail quarterly dividend option as on 13 March 2008 was Rs. 10.4507.

         

Birla Sun Life MF declares dividend

Birla Sun Life Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Birla Sun Life Fixed Term Plan- Half Yearly-Series 3. The record date is set as 18 March 2008. The fund house has decided to distribute 100% of surplus available under option as on record date. The NAV for the scheme was Rs. 10.4075 as on 13 March 2008. Birla Sun Life Fixed Term Plan- Half Yearly-Series 3 is a close-ended income scheme with the objective to generate current income by investing in portfolio of fixed income securities maturing normally in line with the duration of the scheme.

         

JM Financial MF declares dividend for two schemes

JM Financial Mutual Fund has announced 19 March 2008 as the record date for the declaration of dividend under dividend option of JM Arbitrage Advantage Fund and JM Equity and Derivative Fund. The fund house has declared a dividend of 2.50% i.e. Rs 0.25 per unit on face value of Rs 10 - for JM Arbitrage Advantage Fund. It has also declared a dividend of 1.80% inclusive of dividend distribution tax i.e. Rs 0.18 per unit on face value of Rs 10 -for JM Equity and Derivative Fund.

The record date for both the scheme has been fixed as 19 March 2008. The NAV of JM Arbitrage Advantage Fund was at Rs. 10.3900 as on 13 March 2008 whereas the NAV of JM Equity and Derivative Fund were at Rs. 10.3899 as on 13 March 2008. JM Arbitrage Advantage Fund is an equity oriented interval fund with an investment objective of generating income through arbitrage opportunities emerging out of mis-pricing between the cash market and the derivatives market and through deployment of surplus cash in fixed income instruments. JM Equity and Derivative Fund is an income scheme -Interval fund. Its investment objective is to generate regular income through arbitrage opportunities.

 

LIC MF declares dividends

LIC Mutual Fund has announced 18 March 2008 as record date for declaration of dividends in three schemes: LIC Index Fund-Nifty Plan. The fund house has decided to pay dividend of 20% i.e. Rs 2.00 on the face value of Rs 10. LIC Index Fund-Nifty Plan is an open-ended index scheme. The investment objective of the fund is to provide capital growth by investing in Nifty index stocks.

 

Dividend Declared Under Birla Fixed Term Half Yearly Series-3

Birla Sun Life Mutual Fund has declared a dividend under the dividend option of Birla Fixed Term Plan Half Yearly Series 3.The quantum of the dividend would be 100 per cent of distributable surplus as on the record date. The record date for the same has been fixed as March 18, 2008.

 

Lotus India MF declares dividend

Lotus India Asset Management Company (Lotus India AMC) announced the declaration of dividend of 2.5% in the Retail - Quarterly Dividend Option of Lotus India Active Income Fund. Lotus India AMC has notified 18 March 2008 as the record date for the purpose of declaring dividend. Distribution of dividend is subject to availability and adequacy of distributable surplus. Pursuant to payment of dividend, NAV would fall to the extent of dividend payout and statutory levy, if applicable.

The dividend proposed to be declared is Re. 0.25 per unit on a face value of Rs. 10/- per unit. The NAV of the Retail - Quarterly Dividend Option as on March 13, 2008 was Rs. 10.4507. All unit holders of Retail - Quarterly Dividend Option under the Scheme, whose names appear in the records of the Registrar, Computer Age Management Services Pvt. Ltd., as at the close of business hours on March 18, 2008, will be entitled to receive the dividend.

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