Mumbai: HDFC Mutual Fund has declared a maiden dividend of Rs 1.50 per unit under the Dividend Plan of HDFC Growth Fund.

The dividend declared is tax-free (the record date for the same was 1 September 2003).

As on 1 September 2003, the cum-dividend net asset value (NAV) for HDFC Growth Fund was Rs 13.071 per unit and the ex-dividend NAV was Rs 11.571 per unit.