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UTI MF declares tax free dividend of 7 percent

| Published: Thursday, December 16, 2010, 19:52 [IST]

Mumbai, Dec 16: Sponsored by State Bank of India, Punjab National Bank, Bank of Baroda, UTI Mutual Fund announced tax-free dividend of 7 percent, which would come into its effect from Dec 21, 2010.

All unit holders, who are registered under the dividend option of UTI Dividend, can afford fund from Dec 21, 2010.

Other investors, who join the dividend option of the scheme on or before the record date, will be eligible for the dividend.

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 dividend distribution by investing predominantly in equity and equity related instruments, which offer high dividend yield.

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