HDFC MF declares dividends for four schemes

Our Markets Bureau
31 March 2004

Mumbai: HDFC Mutual Fund has declared dividends under the Dividend option of various plans of HDFC Income Fund, HDFC Gilt Fund, HDFC High Interest Fund and HDFC Sovereign Gilt Fund. The record date for the same was March 22, 2004.

Under the respective Dividend Options of HDFC Income Fund, HDFC Income Fund - Premium Plan and HDFC Income Fund - Premium Plus Plan, a dividend of Re. 0.12 per unit has been declared. The cum-dividend NAV for HDFC Income Fund was Rs. 10.8004 per unit, as at March 22, 2004. The cum-dividend NAV as at March 22, 2004 for HDFC Income Fund - Premium Plan was Rs. 10.8542 per unit and for HDFC Income Fund - Premium Plus Plan was Rs. 10.8872 per unit.

Under HDFC Gilt Fund, dividends of Re 0.10 per unit and Re. 0.05 per unit have been declared under the Dividend Options of its Long Term Plan and Short Term Plan respectively. The cum-dividend NAV as at March 22, 2004 for the Long Term Plan was Rs. 10.6431 per unit and for the Short Term Plan was Rs. 10.1474 per unit.

Under the respective Dividend Options of HDFC High Interest Fund (formerly Zurich India High Interest Fund) - Quarterly, Half yearly and Yearly Options, dividends of Re. 0.12 per unit, Re. 0.25 per unit and Re 0.80 per unit have been declared. The cum-dividend NAV for HDFC High Interest Fund — Quarterly Option was Rs. 11.1180 per unit as at March 22, 2004. The cum-dividend NAV as at March 22, 2004 for HDFC High Interest Fund — Half yearly Option was Rs. 11.0986 per unit and for the HDFC High Interest Fund — yearly Option was Rs. 11.8210 per unit.

Under the respective Dividend Options of HDFC Sovereign Gilt Fund (formerly Zurich India Sovereign Gilt Fund) — Savings Plan and Investment Plan, a dividend of Re. 0.05 per unit has been declared, whereas a dividend of Re. 0.075 per unit has been declared under the dividend option of HDFC Sovereign Gilt Fund — Provident Plan. The cum-dividend NAV for HDFC Sovereign Gilt Fund - Savings Plan was Rs. 10.7574 per unit, as at March 22, 2004. The cum-dividend NAV as at March 22, 2004 for HDFC Sovereign Gilt Fund — Investment Plan was Rs. 10.9682 per unit and for HDFC Sovereign Gilt Fund — Provident Plan was Rs. 11.1818 per unit. After the payment of the dividend the NAVs of the Schemes/Plans have fallen to the extent of the payout and distribution tax if applicable.

All dividends are declared on the face value of Rs. 10 per unit. It must be noted that past performance may or may not be sustained in the future.