Mumbai: Tata Mutual Fund has declared a dividend of 10 per cent (Re 1 per unit on face value of Rs 10/-) in its open-ended equity diversified scheme - Tata Dividend Yield Fund declares.
The record date for the dividend is July 21, 2006.
All unit holders registered under the dividend option of Tata Dividend Yield Fund as on July 21, 2006 will be eligible for this dividend.
Pursuant to the payment of dividend, the NAV of the scheme concerned would fall to the extent of payout and statutory levy (if applicable).
The NAV per unit as on July 18, 2006 was Rs 12.1237 under the dividend option. Over the last one year, Tata Dividend Yield Fund has yielded 6.7 per cent returns as against 42 per cent yielded by its benchmark BSE Sensex.
Tata Dividend Yield Fund is an open-end equity scheme having fund size of Rs. 191.35 crores as on June 30, 2006.
The objective of the scheme is to provide income distribution and / or medium to long-term capital gains by investing predominantly in high dividend yield stocks.
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