 SBI Magnum IT Fund announces 40% dividendPublished on Fri, Jun 29, 2007 at 15:34 | Source : Moneycontrol.com Updated at Fri, Jun 29, 2007 at 16:50 Like this story, share it with millions of investors on M3
SBI Mutual Fund has declared a dividend of 40% (Rs 4 per unit on face value of Rs 10) in its open-ended Sector Fund - SBI Magnum IT Fund. The investment objective of the scheme is to provide the investors maximum growth opportunity through equity investment in stocks of growth oriented sectors viz. IT. (Check out - Recent MF Dividends ) The record date for the same has been fixed as July 4, 2007. All investors registered under the scheme as on July 4, 2007 will receive this dividend. Please note that dividend as decided shall be paid, subject to availability of distributable surplus. Pursuant to payment of dividend, the NAV of the schemes would fall to the extent of payout and statutory levy (if applicable). This is the second dividend declared by the scheme. The last dividend declared was in March 2000, the fund had declared a 40% dividend and a bonus of 1:2. For more Mutual Fund News click here
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