Franklin Templeton declares interest-free 60 pc dividend

Mumbai, Nov 9 (UNI) Franklin Templeton Investments (India), one of the largest private fund houses in the country, today announced a tax-free dividend of Rs six per unit of face value of Rs 10 in its fund - Franklin India Prima Plus (FIPP).

All investors registered in the dividend plan as on November 15, 2006 will receive this tax-free dividend, a company release said. There will be a one-day book closure for the growth and dividend plans on November 16, 2006 and will reopen for fresh purchases and redemptions on November 17, 2006. Under the dividend reinvestment plan, the dividend declared will be reinvested at the NAV of November 17, 2006 and unit holders will be allotted additional units for the dividend amount, the release added.

Company president Vivek Kudva said, '' The judicious stock selection approach along with the buoyant markets has resulted in the fund turning in a good performance.'' UNI SA AG1846