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SBI Mutual Announces Dividend


SBI Mutual Fund has declared dividend in its following funds:

Magnum Gilt Fund has declared a dividend of 8 per cent (Rs 0.80 per unit) in its Long-term Plan and 0.55 per cent (Rs 0.055 per unit) in its Short-term Plan. This is the highest dividend declared by the fund in its long-term plan. Earlier highest being 6.5 per cent declared in January 2002. Whereas, in short-term plan, the current declaration is lower than the previous one (0.85% declared in Feb '02).

In Magnum Monthly Income Plan (MMIP), a dividend of 10.50 per cent (Rs 1.05 per unit) has been declared in its annual plan and 2.5 per cent (Rs 0.25 per unit) in its quarterly dividend plan and 0.75 per cent (0.075 per unit) in its monthly dividend plan. All the three plans maintain a different portfolio.

A dividend of 1.75 per cent has also been declared in its Debt Fund 15-Month Series. This is the third dividend from the fund since its launch in July 2001. The earlier payouts were - 1.97 per cent in Oct '01 and 0.575 pert cent in Jan '02.

The record date for payment of dividend in Gilt Long-term and monthly dividend plan of MIP is March 26, 2002 and for the rest it is March 22, 2002.