L&T Mutual Fund has announced 30 per cent dividend under dividend payout option of scheme named as "L&T Midcap Fund - Direct Plan" on the face value of Rs 10 per unit.
The record date for the dividend is August 19. The latest NAV of the scheme is Rs 41.65.
The investment objective of the open ended equity scheme is generating capital appreciation by investing primarily in midcap stocks. The scheme will invest in companies whose market capitalization falls between the highest and the lowest constituent of the CnX Midcap Index.
The performance of the scheme was benchmarked against CNX Midcap Index. Soumendra Nath Lahiri is the fund manager of the scheme.