Franklin Templeton announces tax-free dividend

New Delhi, May 17 (UNI) Franklin Templeton Investments (India), one of the largest fund houses in the country, today announced a tax-free dividend of Rs 3.00 per unit in its 'FT India Balanced Fund'.

The dividend carries a face value of Rs 10 per unit.

''All investors registered in the dividend plan as on May 23, 2007 will receive this tax-free dividend,'' a statement said.

There will be a one-day book closure for the growth and dividend plans on May 24, 2007 and will reopen for fresh purchases and redemptions on May 25, 2007.

Under the plan, the dividend declared will be reinvested at the Net Annual Value (NAV) of May 25, 2007 and unit holders will be allotted additional units for the dividend amount.

FT India Balanced Fund, an open end balanced scheme, manages over Rs 265 crore of assets for over 21,750 investor accounts and has been delivering steady performance.

UNI