UTI Equity Fund has declareda tax-free dividend of 14% (Re.1.40 per unit on face value of Rs.10). The record date for the dividend is February 26, 2013, according to a UTI press release.
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 invests at least 80% of its assets in equity and up to 20% in debt/money market instruments.
The scheme is managed by Anoop Bhaskar. The fund AUM was Rs 2390 crore as on January 2013.
