Franklin Templeton Investments (India), has announced tax-free dividend in its open end balanced fund- Franklin India Balanced Fund (FIBF) of 25% (Rs. 2.50 per unit on face value of Rs. 10) under dividend plan and direct-dividend plan option, says the press release issued by the company.
The record date for the dividend is May 29, 2015 and any purchases made on or before the record date will be eligible for the dividend.
Under the dividend reinvestment plan, the dividend declared will be reinvested at the NAV of June 1, 2015 and the unit holders will be allotted additional units for the dividend amount.
The NAV of FIBF on May 21, 2014 under dividend plan was Rs.24.0091 and under direct dividend plan was Rs.24.3831. Franklin Templeton Investments (India) is one of the largest fund house in the country.
