SBI Mutual Fund has declared a dividend of 40% ((Rs. 4.00 per unit on Face Value of Rs.10) under dividend option of SBI Magnum Taxgain Scheme 1993. The record date for dividend has been fixed as March 18, 2011.
All investors registered in the dividend plan of SBI Magnum Taxgain Scheme 1993 as on March 18, 2011 will receive this dividend. The NAV of the scheme as on March 14, 2011 under the dividend option was Rs. 39.13.
SBI Magnum Taxgain Scheme 1993, is an open ended ELSS Scheme. The objective of the scheme is to deliver the benefit of investment in a portfolio of equity shares, while offering deduction on such investments made in the scheme under section 80C of the Income Tax Act, 1961 and (b) Distribute income periodically depending on distributable surplus.
Source: http://www.moneycontrol.com/news/mf-news/sbi-magnum-taxgain-scheme-1993-declares-dividend-_529645.html
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