Birla MIP has announced a monthly dividend of 0.91 per cent (Rs 0.091 per unit) under the monthly dividend plan and 1 per cent (Rs 0.1 per unit) in its monthly payment plan. The record date for both the plans has been set as February 22, 2002. The fund was launched in November 2000 and paid its first dividend of 2.55 per cent in February 2001. Since then, the fund has paid twelve consecutive dividends (excluding the current declaration) aggregating 10.43 per cent in all. Currently, the fund's portfolio comprises of 87 per cent in debt securities with marginal (5.2%) exposure to equities.
From now onwards, there will be no book closure period for both the plans and the record date will be the last Friday of every month. Earlier, the fund used to declare dividend on 25th of every month.
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