UTI Equity Tax Savings Plan pays dividend

UTI Mutual Fund declared tax-free dividend of 10% for its scheme-UTI Equity Tax Savings Plan.

UTI Mutual Fund today declared tax-free dividend of 10 per cent for its scheme–UTI Equity Tax Savings Plan (UTI-ETSP).

The record date for the dividend is February 21,the company said in a statement.

All unit holders registered under the dividend options of both the schemes as on February 21 would be eligible for dividends.

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As on February 15,the NAV per unit of UTI Equity Tax was Rs 16.35 under the dividend options.

Launched in November 1999,UTI-ETSP is an open-ended equity oriented tax savings scheme. The corpus of the fund is invested in equities,fully convertible debentures/bonds and warrants of companies.

Investment in this scheme would qualify for deduction,subject to a maximum of Rs 1,00,000 under Section 80C of Income Tax Act.

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UTI Mutual Fund

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