UTI- Services Industries Fund declares tax-free dividend of 20% (Rs.2.00 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 27, 2009.
The scheme has declared dividends at regular intervals since its launch in 1999.
All unitholders registered under the dividend option of UTI- Services Industries Fund as on November 27, 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 19, 2009 was Rs.24.47 under the dividend option.
UTI-Services Industries Fund was launched in May 1999 as an open-ended equity scheme. Investment objective of the scheme is to provide investors the benefits of capital appreciation and income distribution through investments in equities and equity related instruments of companies engaged in the business of banking, finance & insurance, education & training, telecom services, travel & tourism, leisure & entertainment, transportation etc.
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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).
