Religare Mutual Fund has declared a dividend of Rs.0.75 per unit on the face value of Rs.10 per unit under the dividend option of Religare Tax Plan.
The record date for the dividend is March 30, 2011. All investors under the dividend option, whose names appear on the register of unit holders as on March 30, 2011 would be eligible for dividend.
Religare Tax Plan is an open ended equity linked savings scheme with a lock in period of 3 years. The scheme seeks to generate long term capital growth from a diversified portfolio of predominantly equity and equity-related securities.
The NAV of the scheme as on March 24, 2011 under the dividend option stood at Rs.11.91 per unit.
Dividend distribution is subject to availability of distributable surplus on the record date. Pursuant to the payment of dividend, the NAV of the scheme would fall to the extent of payout and statutory levy if any.