ICICI Prudential Mutual Fund has announced 16.8228 per cent dividend under dividend payout option of scheme named as “ICICI Prudential Bluechip Fund - Direct Plan” on the face value of Rs 10 per unit.

The record date for the dividend was January 15. The latest NAV of the scheme is Rs 32.83

The investment objective of the open ended equity diversified scheme is to generate long-term capital appreciation and income distribution to unitholders from a portfolio that is invested in equity and equity related securities of about 20 companies belonging to the large cap domain and the balance in debt securities and money market instruments. The Fund Manager will always select stocks for investment from among Top 200 stocks in terms of market capitalization on the National Stock Exchange of India Ltd. If the total assets under management under this scheme goes above Rs.1000 crores the Fund Manager reserves the right to increase the number of companies to more than 20.

The scheme is benchmarked against Nifty 100 Total Return. Rajat Chandak is the fund manager of the scheme.