Principal PNB Asset Management company on Sunday declared a 400 per cent dividend in its Principal Personal Tax Saver Fund.

The record date for the dividend has been fixed as March 25, the company said in a press release.

The eligible unit holders would receive a dividend of Rs 40 per unit on the face value of Rs 10 each, it said.

The Net Asset Value (NAV) of the scheme, as on March 18, 2008 stood at Rs 120.51, it said.

Principal PNB Asset Management is a joint venture between Mauritius-based Principal Financial Group, Punjab National Bank and Vijaya Bank.

The company's current Assets Under Management stands at Rs 14,234.89-crore and has over 8-Lakh investors as on January 31, 2008, the company said.