Franklin Templeton Investments (India), one of the largest fund houses in the country has announced a tax-free dividend of Rs 3.00 per unit on a face value of Rs 10, on its fund - Franklin India Flexi Cap Fund, which is one of the largest equity funds in the country.
All investors registered in the dividend plan as on Mar. 12, 2008 will receive this tax-free dividend. Pursuant to payment of dividend, the NAV of the fund would fall to the extent of payout.
There will be a one-day book closure for the growth and dividend plans in the fund on Mar. 13, 2008 and will reopen for fresh purchases and redemptions on Mar. 14, 2008.
Under the dividend reinvestment plan, the dividend declared will be reinvested in the fund at the NAV of Mar. 14, 2008 and unit-holders will be allotted additional units for the dividend amount.
Franklin India Flexi Cap Fund was launched in March 2005 as an open end equity scheme. The fund manages over Rs 31.25 billion of assets for over 425,000 investor accounts.