Dividend declared in Birla MIP

By Our Corporate Bureau | 24 Jan 2002

1

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.


 

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