UTI Mutul Fund declares 8 pc dividend

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Mumbai, Jan 18 (UNI) UTI Mutual Fund has announced tax free dividend of 8 per cent to its unitholders registered under the dividend option of 'UTI Dividend Yield Fund'.

This was the third dividend of Rs 0.80 per unit on face value of Rs 10, declared by the scheme during the current fiscal.

''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,'' UTI said.

The fund has been positioned as a diversified equity scheme that invests primarily in stocks with high dividend yield and the record date for the dividend will be January 23, the company added.

UTI Mutual Fund is a Security and Exchange Board of India (SEBI) registered mutual fund, whose sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.


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