UTI Dividend Yield Fund declares tax-free dividend of 5% (Re.0.50 per unit on face value of Rs.10). 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.
The record date for the dividend is November 13, 2009.
During this fiscal year 2009-10 the scheme has so far declared dividend aggregating to 14% (Re.1.40 per unit on face value of Rs.10).
All unitholders registered under the dividend option of UTI Dividend Yield Fund as on November 13, 2009 will be eligible for this dividend. Also investors who join the dividend option of the scheme on or before the record date will be eligible for the dividend.
The NAV per unit as on November 6, 2009 was Rs.13.27 under the dividend option.
UTI-Dividend Yield Fund is an open-ended equity oriented scheme. The investment objective of the scheme is to provide medium to long-term capital gains and / or dividend distribution by investing predominantly in equity and equity related instruments, which offer high dividend yield. Dividend Yield is considered as high if it is greater than the dividend yield of the Nifty last released/ published by NSE.
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Ms Swati Kulkarni, fund manager of the scheme said, "UTI Dividend Yield Fund is positioned as a conservatively managed equity scheme that invests primarily in stocks with high dividend yield. The scheme has a good mix of companies across various sectors and is well suited for investors with medium to low risk profile."
About UTI Mutual Fund
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.
UTI Mutual Fund has assets under management (average) of Rs.76847.34 crore and investor accounts of over 9.79 million under its 75 domestic schemes (as of October 31, 2009).
