When will you receive dividendAfter record date, if you opted for direct credit then in such case will get credited within 7-8 working days in your bank account registered in that scheme, and in case of cheque payment it will take 10-15 working days.
This information (details) are available in account statement as which mode of payment is alloted to you.
Even i have investment in SBI Magnum tax Gain and have option of direct credit to my bank account. The SBI Magnum tax Gain dividend got credited in my bank account on March 28, 2012.
Dividend in SBI Magnum Tax Gain Scheme (Record date March 28, 2013)