Birla MIP declares monthly dividend
By Our Banking Bureau | 02 Mar 2002
The
scheme has declared a tax-free dividend of 0.91 per cent
(Re 0.091 per unit). This is after the payment of distribution
tax @ 10.2 per cent. The record date for the dividend
was 22 February 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 3.30 pm (subject to realisation of cheques) on 22
February 2002, are eligible for the dividend/payment.
The scheme has till date distributed a total of absolute
8.63 per cent (Re 0.863 per unit) during the first 11
months of current financial year 2001-02.
Launched in November 2000, Birla MIP is an ideal scheme
for investors who look for a regular inflow. As on 31
January 2002, a predominant 95 per cent of the assets
were invested
in debt and related instruments. The balance 5 per cent
accounted for equity investments, though the scheme can
invest up to 15 per cent of its assets in equities.
With assets under management in excess of Rs 4,400 crore,
the company offers a wide range of schemes in equity,
debt and balance, which encompasses diversified as well
as sector-specific equity schemes, a monthly income scheme
and treasury products and two offshore funds, thus addressing
the needs of all investors.
