UTI Unit Scheme for Charitable and Religious Trusts and Registered Societies (UTI-CRTS) declares a dividend resulting in gross pay out of 6.5% (Rs.6.5 per unit on a face value of Rs.100/-) under dividend option-existing plan and dividend option –direct plan. This pay out includes the applicable dividend distribution tax.
Pursuant to the payment of dividend, the NAV of the dividend option-existing plan and dividend option-direct plan of the scheme would fall to the extent of payout.
The record date for the dividend is December 22, 2014.
Considering the dividend distribution tax, the net payout translates into a dividend of 4.38% (Rs.4.38 per unit on a face value of Rs.100/-) for the UTI-CRTS investors.
The NAV of UTI CRTS on December 16, 2014 under dividend option-existing plan was Rs.152.5508 and under dividend option-direct plan was Rs.153.5259.
UTI-CRTS is an open-ended income scheme which caters to the investment needs of Charitable, Religious and Educational Trusts as well as Registered Societies. The objective of the scheme is primarily to provide regular income to its investors by investing not more than 30% of the funds in equity/ equity related instruments and balance in debt and money market instruments.
Amandeep Chopra is the fund manager for the debt portion of the scheme and V Srivatsa is the fund manager for the equity portion of the scheme.
