Mumbai: SBI Mutual Fund has declared dividend under its SBI Magnum Taxgain 1993. The record date for distribution of dividend is March 18, 2011.
The quantum of dividend decided for distribution is Rs 4.00 per unit on the face value of Rs 10.
SBI Magnum Taxgain Scheme 1993 is an open ended ELSS scheme with investment objective to deliver the benefit of investment in a portfolio of equity shares, while offering deduction on such investments made in the scheme under Section 80 C of the Income-tax Act, 1961. It also seeks to distribute income periodically depending on distributable surplus. The scheme is managed by Jayesh Shroff and is benchmarked against BSE 100.
