Franklin Templeton Investments (India) has announced tax-free dividend in its fund - Templeton India Equity Income Fund (TIEIF). Investors registered in the Dividend Plan will receive this tax-free dividend. Pursuant to payment of dividend, the NAV of the scheme would fall to the extent of payout and statutory levy (as applicable).
The quantum of dividend on the face value of Rs 10 per unit will be Rs 0.70 each under Dividend Plan and Direct - Dividend Plan under TIEIF.
Under the dividend reinvestment plan, the dividend declared will be reinvested in the Fund at the NAV of March 20, 2017 and unitholders will be allotted additional units for the dividend amount.