UTI Equity Fund Declares Tax-Free Dividend Of 14%

UTI declared a tax-free dividend of 14% for investors who invested in the UTI Equity Funds. The dividend was announced for people who had opted for the equity funds on or before February 26, 2013.

Online PR News – 27-April-2013 – 25-Apr-13, Mumbai, Maharashtra – UTI Equity Fund declares tax-free dividend of 14% (Re.1.40 per unit on face value of Rs.10). Pursuant to the payment of dividend, the NAVs of the dividend option- existing plan and dividend option-direct plan of the scheme would fall to the extent of payout and statutory levy if any.

The record date for the dividend is February 26, 2013.

All unit holders registered under the dividend option-existing plan and dividend option-direct plan of UTI Equity Fund as on February 26, 2013 will be eligible for this dividend. Also investors who join any of the dividend options of the scheme on or before the cut off time of the record date will be eligible for the dividend.

The NAV of UTI Equity Fund on February 20, 2012 under dividend option-existing plan was Rs.54.9251 and under dividend option-direct plan was Rs.54.9489. UTI Equity Fund was launched in April 1992 as a close-ended equity scheme and was made open-ended in 1997. The scheme primarily aims at securing for its unit holders capital appreciation by investing in equity shares, convertible and non-convertible bonds/debentures of companies with good growth prospects and money market instruments. The scheme invests at least 80% of its fund in equity and equity related instruments with medium to high-risk profile and up to 20% in debt/money market instruments with low to medium risk profile.

Mr Anoop Bhaskar is the Fund Manager of the Scheme.