Birla Sun Life Tax Relief '96 announces 500% dividend

The Trustees of Birla Sun Life Mutual Fund has declared 500% Dividend (Rs.50) in Birla Sun Life Tax Relief '96 scheme. Investments in this fund would enable you to avail benefits under Section 80C of the Income Tax Act, 1961. Investments upto Rs. 1 lakh by eligible investors in the scheme may qualify for deductions.

The Dividend Distribution is proposed subject to availability of surplus on the record date. After payment of dividend, NAV will fall to the extent of payout and statutory levy, if any. The NAV as on 8th, March 2007 is Rs. 136.98.

Tha face value of the unit is Rs.10. Birla Sun Life Tax Relief '96 (BSLTR ‘96 ) is a fund which aims at achieving long term growth of capital along with Income Tax benefits for investors. It follows a bottom-up approach to investing, where the emphasis is on identifying companies in quality businesses with a strong competitive position and run by quality management. Essentially the focus is on long term fundamentally driven values.

The fund has already declared 3 dividends in this year apart from this dividend. The fund declared 500% dividend on 27-April-2006, 250% dividend on 8-December-2006, 260% dividend on 19-January-2007. The total dividend including the current one in this year amounts to Rs.151 or 1510%.

Past performance may or may not be sustained in the future and should not be used as a basis of comparison with other investments. Please read the Offer Documents/Addendums of the Schemes carefully before investing.

Source : Equity Bulls

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