UTI Unit Scheme for Charitable and Religious Trusts and Registered Societies (UTI-CRTS) declares a dividend resulting in gross pay out of 3.5% (Rs.3.50 per unit on a face value of Rs.100/-). This pay out includes the applicable income distribution tax. The record date for the dividend is March 22, 2012.
Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of payout and statutory levy if any.
Considering the income distribution tax, the pay out translates into a dividend of 2.64% (Rs.2.64 per unit on a face value of Rs.100/-) for the CRTS investors.
The NAV per unit as on March 16, 2012 was Rs.129.0261 under the dividend option.
UTI-CRTS is an open-ended income oriented scheme which caters to the investment needs of Charitable, Religious and Educational Trusts as well as Registered Societies. The objective of the scheme is primarily to provide regular income to its investors by investing not more than 30% of the funds in equity/ equity related instruments and balance in debt and money market instruments.
Amandeep Chopra is the fund manager of the scheme.