Religare MF declares 10% dividend under Religare Tax Plan

Mumbai - November 23, 2009: Religare Mutual Fund has announced dividend of 10% (Re. 1.00/- per unit on the face value of Rs. 10) under the dividend option of Religare Tax Plan.

Dividend distribution is not assured and is subject to availability of distributable surplus ont he record date. After the payment of dividend, the NAV will fall to the extent of payout and statutory levy if any.

The record date for dividend is November 25, 2009. All investors under the dividend option, whose names appear on the register of unit holders as on November 25, 2009 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 November 19, 2009 under the dividend option stood at Rs 12.80 per unit.

This is the 2nd dividend declared by the scheme; the last dividend declared by the scheme was 15% in Jan 2008. Over the last one year, Religare Tax Plan has yielded 81.36% as compared to 68.21% given by its benchmark BSE 100 as on October 30, 2009. (Past performance may or may not be sustained in future).

The fund offers both Lump sum and SIP modes of investment along with dividend & growth options. The minimum application amount under both options is Rs 500 and in multiples of Rs 500 thereafter.

The Religare Enterprises stock was trading at Rs.374.65, up by Rs.1.30 or 0.35%. The stock hit an intraday high of Rs.379.95 and low of Rs.373.35.

The total traded quantity was 20625 compared to 2 week average of 18554.

Source : Equity Bulls

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