Canara Robeco Mutual Fund, Franklin Templeton Mutual Fund, Nippon India Mutual Fund and Aditya Birla Sun Life Mutual Fund have announced dividends in select schemes. The record date for the same is February 23, 2024. This date serves as a crucial cut-off point for determining the list of investors eligible to receive dividends.
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In case of Canara Robeco Mutual Fund, dividends will be given on Canara Robeco ELSS Tax Saver Reg-Income Distribution Cum Capital Withdrawal (IDCW) Fund and Canara Robeco ELSS Tax Saver Direct-IDCW Fund.
The quantum of dividends for these funds is set at ₹1.12 per unit and ₹1.79 per unit, respectively, according to Value Research.
On the other hand Franklin Templeton Mutual Fund has declared dividends in these schemes:
Nippon India Mutual Fund has joined the dividend declaration trend with schemes such as Nippon India Pharma-IDCW (₹10 per unit), Nippon India Pharma Direct-IDCW (₹10 per unit), Nippon India Value-IDCW (₹4 per unit), and Nippon India Value Direct-IDCW (₹4 per unit), according to Value Research.
Additionally, Aditya Birla Sun Life Mutual Fund has declared dividends in its schemes, including Aditya Birla SL Manufacturing Equity Reg-IDCW (₹1.372 per unit), Aditya Birla SL Manufacturing Equity Direct-IDCW (₹1.48 per unit), Aditya Birla SL ELSS Tax Saver Reg-IDCW (₹13.48 per unit), and Aditya Birla SL ELSS Tax Saver Direct-IDCW (₹13.48 per unit).
Mutual funds distributing dividends essentially pass on a portion of the profits earned from dividend-paying securities to their investors.
It's important for investors to note the record date of February 23, 2024, as holding units of the respective funds on this date is necessary to be eligible for the declared dividends.
