IDBI Monthly Income Plan declares dividend

IDBI Mutual Fund has declared dividend under the quarterly dividend options of IDBI Monthly Income Plan, an open-ended income scheme. The record date for dividend has been set as April 18, 2012.

The quantum of dividend will be Re.0.25 per unit for quarterly dividend option as on the record date. Dividend is being declared on the face value of Rs.10/- per unit. NAV of the scheme, pursuant to payment of dividend, would fall to the extent of payout and statutory levy, if any. The NAV of IDBI Monthly Income Plan Quarterly Dividend option as on April 15, 2012 is Rs.10.4158. Speaking on the occasion, Mr. Debasish Mallick, MD & CEO of IDBI Asset Management Ltd., said, “The IDBI Monthly Income Plan aims to provide regular returns in the form of dividend to investors seeking a steady income stream and we at IDBI Mutual Fund are glad to have successfully met this objective with regular dividend declaration.”