IDBI Monthly Income Plan Announces Dividend

By SiliconIndia   |   Friday, September 30, 2011
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Bangalore: IDBI Mutual Fund has declared dividend under the monthly and quarterly dividend options of IDBI Monthly Income Plan. This is an open-ended income scheme. The record date for dividend has been set as 29 September 2011 for the quarterly dividend option. The record date for the monthly dividend option was 26 September 2011. Dividend is being declared on the face value of Rs.10 per unit. The investment objective of the scheme is to provide regular income along with opportunities for capital appreciation through investments in a diversified basket of debt, equity and money market instruments. The quantum of dividend will be 15 paise per unit for quarterly dividend option as on the record date. The quantum of dividend declared under the monthly dividend option is 4 paise. Debasish Mallick, MD & CEO of IDBI said, "The IDBI Monthly Income Plan aims to provide regular returns in the form of dividend to investor seeking a steady income stream and we at IDBI Mutual Fund are glad to have successfully met this objective, so far, with regular dividend declaration."
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