Franklin Templeton declares dividend for two funds

MUMBAI: Franklin Templeton Investments (India), today announced dividends in two funds-Templeton India Growth Fund (TIGF) and Templeton India Pension Plan (TIPP).

All investors registered in the dividend plans of the respective funds as on December 16 would receive the dividend, the company said in statement here.

For TIGF plan, the dividend declared is Rs 3 per unit and for TIPP plan the amount of dividend is Rs 1.20 per unit.

Pursuant to payment of dividend, the NAV of the funds would fall to the extent of payout and statutory levy, as applicable.

The record date for the dividend is December 16 and any purchases on or before this date would be eligible for the dividend.

In addition to the dividends, investment of up to Rs 1-lakh TIPP during the current financial year would also be eligible for tax benefits under Section 80 C of the Income Tax Act.