Franklin Templeton announces tax free dividend of 30%

Franklin Templeton announces tax free dividend of 30%

Mumbai: Franklin Templeton Investments (India), has announced a tax-free dividend of Rs3.00 per unit (Face Value of Rs10) in its open-end equity fund – Franklin India Opportunities Fund (FIOF).

The fund invests predominantly in companies and sectors that have the potential to take advantage of growth opportunities. All investors registered in the dividend plan as on 12September, 2007 will receive this tax-free dividend. (Pursuant to payment of dividend, the NAV of the fund would fall to the extent of payout).

The record date for the dividend is 12Sept and any purchases on or before this date will be eligible for dividend. There will be a one-day book closure for the growth and dividend plans on 13Sept, and will reopen for fresh purchases and redemptions on 14Sept.

Under dividend reinvestment plan, dividend declared will be reinvested at the NAV of 14Sept and unitholders will be allotted additional units for the dividend amount.

The FIOF was launched in February 2000 as an open-end sector fund that focused on companies taking advantage of opportunities created by the dramatic growth of the internet and related technologies. With effect from 10March, 2004 the fund has been repositioned to its new form and currently manages about Rs910 crores of assets for over 139,000 investors.