Franklin Templeton Mutual Fund has approved the declaration of tax-free dividend under the Franklin Templeton Franklin India Prima Plus. The record date for dividend is set as 13 February 2008. The AMC plans to distribute 60% of distributable surplus as on record date. The record date for the dividend is 13 February 2008 and any purchases on or before this date will be eligible for the dividend. There will be a one-day book closure for the growth and dividend plans in the respective funds on 14 February 2008 and will reopen for fresh purchases and redemptions on 15 February 2008. Under the dividend reinvestment plan, the dividend declared will be reinvested in the fund at the NAV of 15 February 2008 and unit holders will be allotted additional units for the dividend amount.
Franklin India Prima Plus was launched in September 1994 as an open-end fund and currently manages over Rs.1775 crores of assets for over 220,000 investors. Franklin India Prima Plus, which invests in a diversified portfolio of wealth creating companies that generate a return on capital higher than their cost of capital. The fund has declared ten dividends in the last nine years.
