Dividend declared in Birla MIP
By Our Corporate Bureau | 24 Jan 2002
Mumbai:
Birla Sun Life Asset Management Company has announced
the monthly dividend under the monthly dividend plan in
Birla MIP (an open-ended income fund with no assured returns).
The scheme has an unbroken track record of monthly dividend
distribution since its first dividend in February 2001.
The scheme has declared a tax-free dividend of 0.91 per
cent (Re 0.091 per unit). This distribution is the net
of distribution tax @ 10.2 per cent. The record date for
the dividend is 25 January 2002. The payment rate under
Plan B (monthly payment) is 1.00 per cent (Re 0.10 per
unit).
All investors on record in both plans A and B, including
valid purchase/switch/lateral shift applications received
till 2 pm (subject to realisation of cheques) on 25 January
2002, will be eligible for the dividend/payment.
The scheme has till date distributed a total of absolute
7.72 per cent (Re 0.772 per unit) during the first 10
months of the current financial year 2001-02. The total
distribution from the scheme, including the distribution
tax of 10.2 per cent, works out to an absolute 8.60 per
cent (Re 0.860 per unit).
For both plans A and B there will be a book-closure period
from 26 to 31 January 2002. All purchase/redemptions/lateral
shifts requests received during this period will be accepted
for the next transaction day
1 February 2002. There will however be no book closure
for plan C (growth) and accordingly, transactions will
be accepted as usual under this plan.
Birla MIP was launched in November 2000. As on 31 December
2002, a predominant 96-per cent of its assets were invested
in debt and related instruments; the balance 4 per cent
accounted for equity investments, though the scheme can
invest up to 15 per cent of its assets in equities.
