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Our Bureau

Kochi , Feb. 10

CANBANK Mutual Fund has declared a 20 per cent dividend on Canganga, an open-ended equity-oriented balanced mutual fund scheme.

Every unit with a face value of Rs 10 will receive Rs 2 as dividend.

This income distribution will be tax-free in the hands of the investors, a press release said. The investment objective of Canganga scheme is to provide income-cum-growth over the medium- and long-term by predominantly investing in equity and some portion in debt.

The record date for the income distribution has been fixed as February 23 and the books of the scheme will remain closed on February 24 and 25. On Monday, the NAV of the scheme was Rs 13.67. The ex-dividend NAV will fall to the extent of the payout and distribution taxes.

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