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Magnum Taxgain announces 110% dividend

February 12th, 2008

Magnum Taxgain from SBI Mutual Fund has announced a dividend of 110%. February 15, 2008 will be taken as the record date.

SBI Magnum Taxgain is one of the most popular Tax Savings (ELSS) Mutual Fund. The scheme was launched in March  1993 and has net assets worth Rs. 3,549.90  (as of January 31, 2008). Gopal Agrawal is currently the fund manager of the scheme.

The scheme has Financial Services, Energy, Metals & Metal Products and Basic/Engineering amongst its top sectoral holdings. In regard to stock specifics, the scheme has Reliance Industries, Jai Prakash Associates, Welspun-Gujarat Stahl Rohren, Larsen & Toubro and Reliance Communications as its Top 5 stocks.

Earlier, the scheme has announced as many as 10 dividends:

31-MAR-95: 1.000000 per unit
31-MAR-96: 0.800000 per unit
15-DEC-99: 2.500000 per unit
26-SEP-03: 1.500000 per unit
31-DEC-03: 1.500000 per unit
26-MAR-04: 1.500000 per unit
29-OCT-04: 2.700000 per unit
10-JUN-05: 10.200000 per unit
10-MAR-06: 15.000000 per unit
02-MAR-07: 11.000000 per unit

Entry Filed under: Mutual Funds, SBI Mutual Fund, Dividend Announcements, ELSS