Kotak Mahindra Trustee Company Limited, the trustee of Kotak Mahindra Mutual Fund has approved the declaration of dividend under the Half Yearly Dividend Option of Kotak Bond Short Term Plan, an open ended debt scheme.
The dividend has been declared as Rs. 0.2424 per unit on face value of Rs.10 per unit for the Non Direct Plan and Rs.0.2405 under the Direct Plan of the scheme.
The NAV of the Non Direct Plan was Rs.11.1001 and Rs.10.4463 for the Direct Plan as on December 23, 2014.
The Record date for the dividend has been fixed as December 30, 2014.
Dividend distribution is subject to the availability and adequacy of distributable surplus and deduction of applicable dividend distribution tax. Pursuant to payment of dividend, the NAVs of the Half Yearly Dividend Option under the Scheme would fall to the extent of payout and statutory levy if any.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.