SBI Mutual Fund has declared a dividend of 50% (Rs 5 per unit on face value of Rs 10) in - SBI Magnum Contra Fund. The record date for the dividend is July 17, 2009. (Check out - Recent MF Dividends)

All investors registered under the dividend option of the scheme as on July 17, 2009 will receive this dividend. The NAV under the dividend plan of the scheme as on July 10, 2009 was Rs 23.82.

SBI Magnum Contra Fund, is an open ended equity scheme. The objective of the scheme is to provide the investors maximum growth opportunity through equity investments in stocks of growth oriented sectors.

The last dividend announced by the scheme was of 40% in May 2008. Over the last one year,  SBI Magnum Contra Fund has yielded 6.4% as compared to 0.17% given by its benchmark BSE 100 as on July 10, 2009.