UTI-auto sector fund declares tax free dividend at 40 pc

Mumbai, Apr 4 (UNI) UTI-auto sector fund has declared a tax-free dividend at 40 per cent, which accounts for Rs 4 per unit on the face value of Rs 10.

The record date for the dividend is April 20.

All the unit holders registered under the dividend option of UTI-auto sector fund as on April 20, are eligible for it.

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

The NAV (net asset value) as on April 3, under dividend option was Rs 19.98 (post dividend distribution, NAV will fall to the extent of the payout).

UTI-auto sector fund, an open-end equity fund, is one of the six funds launched in March, 2004 under the UTI-thematic fund. Its objective is to provide investors the benefits of capital appreciation and income distribution through investment in stocks of companies engaged in the automobile and auto ancillary industry.

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