ING Mutual Fund has announced dividend under ING C.U.B (Competitive Upcoming Businesses) Fund -- an open-ended growth scheme.

The amount of dividend declared is 20% or Rs 2 per unit on the face value of Rs 10 each. The fund house has fixed March 11, 2010 as record date for the dividend declaration.

As on March 5, 2010, the net asset value of the scheme stood at Rs 13.52 per unit.

The investment objective of the scheme is to provide long-term capital appreciation by investing pre-dominantly in a diversified portfolio of equity and equity-related securities of companies of small market capitalisation.