Kotak-Mahindra Mutual Fund declares dividend on tax-saving scheme

Mumbai, Feb 16, (UNI) Kotak Mahindra Mutual Fund today announced tax-free dividend of Rs 3 per unit (on a face value of Rs 10 per unit) on Kotak Tax Saver scheme.

The dividend record date is February 20. The distribution of dividend is subject to the availability and adequacy of distributable surplus, the release said.

After dividend distribution, the Net Asset Value (NAV) will fall to the extent of payout and statutory levy, if applicable.

Kotak Tax Saver is a diversified equity scheme, which invests in equity and equity-related securities and enable investors to avail the Income Tax rebate, as permitted from time to time, the release added.

UNI