Axis Asset Management Company Ltd (AXIS AMC), the asset management arm of Indiaâ€™s third largest private sector bank, AXIS Bank, announced the declaration of a quarterly dividend of Rs. 0.25 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 Saver. Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of pay out 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 Saver is an open ended income fund that aims to generate regular income through investments in debt & money market instruments, along with capital appreciation through limited exposure to equity and equity related instruments. It also aims to manage risk through active asset allocation.
All unit holders registered under the dividend option of Axis Income Saver 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.10.6572 for the quarterly dividend option of Axis Income Saver- Direct plan and Rs 10.6268 for the Axis Income Saver- Regular Plan.
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