The Lotus India mutual fund has announced the declaration of dividend under dividend option of Lotus India Arbitrage Fund. The record date for dividend will be 18 March 2008. The fund house will declare the actual distributable surplus available as on the record date as dividend. The dividend proposed to be declared is 2% i.e. Re. 0.20 per unit on a face value of Rs.10 per unit. The NAV of the dividend option as on13 March 2008 was Rs. 10.3911. Since it is an equity-oriented interval Scheme, there will be no dividend distribution tax and the dividend will be tax free in the hands of the investor.
Lotus India Arbitrage Fund is an equity oriented interval scheme which seek to generate income through arbitrage opportunities emerging out of mis-pricing between the cash market and the derivatives market and through deployment of surplus cash in fixed income instruments.
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