Axis Asset Management Company Ltd (AXIS AMC), the asset management arm of India’s third largest private sector bank, AXIS Bank, announced the declaration of a quarterly dividend of Rs. 0.20 per unit on a face value of Rs. 10 (as reduced by the amount of applicable statutory levy, if any) in the quarterly dividend option of Axis Income Fund. Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of payout and statutory levy if any.
The record date for the dividend is May 27, 2013 or the immediately following Business Day, if that day is not a Business Day.
Axis Income Fund is an open ended debt fund that aims to generate optimal returns in the medium term while maintaining liquidity of the portfolio by investing in debt and money market instruments.
All unit holders registered under the dividend option of Axis Income Fund as on May 27, 2013 will be eligible for this dividend. Investors may kindly note that declaration of dividend is subject to availability of distributable surplus on the record date/ex-dividend date. In case the distributable surplus is less than the quantum of dividend on the record date/ex-dividend date, the entire available distributable surplus will be declared as dividend.
The NAV per unit as on May 21, 2013 was Rs. 10.6638 for the quarterly dividend option of Axis Income Fund - Direct plan and Rs. 10.6414 for the Axis Income Fund - Regular Plan.
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