Ex-dividend NAV is the Net Asset Value of a mutual fund scheme on the ex-dividend date—the day on which the fund's NAV is reduced by the amount of the declared dividend or income distribution. Investors who purchase units on or after the ex-dividend date do not receive the declared distribution; only those who held units before this date qualify. In Indian mutual funds under the IDCW (Income Distribution cum Capital Withdrawal) option, the NAV drops on the ex-date to reflect the payout. Investors should be aware that a lower NAV post-dividend does not represent a loss—it is simply a redistribution of the fund's existing value to unit holders.
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