Mumbai, Jan 31 (UNI) UTI Mutual Fund has declared a tax-free dividend of 35 per cent on its UTI Equity Under Tax Saving Plan (UTI-ETSP), for which the record date for the dividend will be Febuary 4.
The firm, on its open-ended equity oriented tax savings scheme -- UTI-ETSP, will pay a dividend to unit holders at the rate of Rs 3.50 per unit on a face value of Rs 10, UTI-MF said, Pursuant to the payment of dividend, the NAV of the dividend option for the scheme would fall to the extent of payout and statutory levy if any. The NAV per unit as on January 30 was Rs 22.11 under the dividend option.
The company has notified that all unit-holders registered under the dividend option of UTI Equity Tax Savings Plan as on February 4, 2008, 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 investment objective of the scheme is to invest in equities, fully convertible debentures, bonds and warrants of companies.
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