ICICI Pru Tax Plan, Emerging S.T.A.R declare dividend

ICICI Prudential Mutual Fund has announced a dividend 15% in ICICI Prudential Tax Plan and ICICI Prudential Emerging S.T.A.R. Fund. The record date for the dividends is July 18, 2008.  (Check out - Recent MF Dividends )

ICICI Prudential Tax Plan is an open-ended equity linked saving scheme (ELSS). The objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities.

ICICI Prudential Emerging S.T.A.R. Fund is an open-ended equity scheme. The objective of the scheme id to generate capital appreciation by actively investing in diversified mid cap stocks. The Scheme will invest primarily in companies that have a market capitalization between Rs. 100 crores to Rs. 2000 crores.

All unit holders registered under the dividend option of the scheme as on July 18, 2008 will be eligible for this dividend. The NAV of the scheme under dividend option of ICICI Prudential Tax Plan as on July 11, 2008 was Rs 16.91 and under the dividend plan of ICICI Prudential Emerging S.T.A.R. Fund Rs 15.36.

The last dividend announced by the schemes was of 20% in January 2008. Over the last one year, ICICI Prudential Tax Plan and ICICI Prudential Emerging S.T.A.R. Fund has yielded negative returns of -12.26% and -25.1% as compared to -8.93% and -28.97% given by their benchmark S&P CNX Nifty and CNX Nifty Junior respectively as on July  11, 2008.

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