Kotak Mahindra Mutual Fund has announced 0.09 per cent dividend under dividend payout option of scheme named as “Kotak Liquid - Plan A - Direct Plan” on the face value of Rs 1000 per unit.

The record date for the dividend was January 23. The latest NAV of the scheme is Rs 1005.49.

The investment objective of the open ended liquid fund scheme is to provide reasonable returns and high level of liquidity by investing in debt and money market instruments, of different maturities so as to spread the risk across different kinds of issuers in the debt markets.

The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Deepak Agrawal is the fund manager of the scheme.