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Our Bureau

Kochi , Aug. 21

The Board of Trustees of Canbank Mutual Fund have declared dividend for CanBalance and CanExpo schemes.

CanBalance, which is an open ended balanced scheme that invests in long-term equity, debt and fixed income securities market, has declared a dividend of 15 per cent. With a face value of Rs 10, this would work out to Rs 1.50 per unit. The NAV of the scheme was Rs 17.25.

The equity-oriented open-ended CanExpo scheme has declared a dividend of 25 per cent. The scheme, which invests in equities of companies with substantial foreign exchange earnings, has a face value of Rs 10 and returns work out to Rs 2.50 per unit. The NAV of the scheme was Rs 19.94.

Pursuant to the dividend payment, the NAV of the scheme would fall to the extent of payout and statutory levy, a press release from Canbank Investment Management Services said. Record date for the distribution of the dividend is August 24. All unit holders whose names appear on the register of the schemes under its income plan are eligible for dividend. The dividend declared is tax free in the hands of the investors.

More Stories on : Dividend Announcement | Mutual Funds

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