SBI Mutual Fund has announced a dividend of 50 per cent (i.e. Rs. 5 on face value of Rs. 10) under the Magnum Equity Fund. The record date for the same has been fixed as October 3, 2006.
The fund was launched in November 1990. This is the eleventh dividend payout from the fund and it has declared a dividend after a gap of almost three years. The last dividend declared was a 20 per cent dividend in December 2003. It has declared one bonus and ten dividends since its launch.