JM Mutual Fund (MF) announced to declare dividend, under the dividend option of JM Interval Fund - Quarterly plan 3.

The fund house has fixed Nov. 10, 2008 as the record date for the declaration of dividend. It will declare the entire distributable surplus available on the record date, as dividend. Pursuant to payment of dividend, the NAV will fall to the extent of dividend payout and statutory levy, if applicable. The NAV of the dividend option of the scheme stood at Rs 10.70 per unit, as on Nov. 07, 2008.

All unit holders registered on or before the record date will be eligible to receive the dividend.

The scheme seeks to generate returns and reduce interest rate volatility by investing in a portfolio of fixed income securities.