Religare Mutual Fund has announced dividend under Religare Contra Fund - an open ended equity 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 12, 2010 as the record date for 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 generate capital appreciation through investment in equity & equity related instruments through means of contrarian investing.