UTI MF Declares Dividend

UTI Dividend Yield Fund declares tax-free dividend of 8% (Re.0.80 per unit on face value of Rs.10). The record date for the dividend is 8 June 2007. During the financial year 2006-07, UTI Dividend Yield Fund had declared dividend totaling to 21% (Rs.2.10 per unit on face value of Rs.10). All unit holders registered under the dividend option of UTI Dividend Yield Fund as on 8 June 2007 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 NAV per unit as on 4 June 2007 was Rs.12.88 under the dividend option. 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. Ms Swati Kulkarni, fund manager of the scheme said, "UTI Dividend Yield Fund is positioned as a conservatively managed diversified equity scheme that invests primarily in stocks with high dividend yield. The scheme has a good mix of companies across various sectors and is well suited for investors with medium to low risk profile."