UTI MF declares 3.5% dividend

UTI Mutual Fund declared a gross dividend of 3.5% for its Charitable and Religious Trusts.

UTI Mutual Fund declared a gross dividend of 3.5 per cent for its Charitable and Religious Trusts and Registered Societies Scheme.

The dividend after tax deductions will be 2.64 per cent and the record date for the payout is March 22,the fund house said in a statement here.

As on March 16,the net asset value per unit of scheme is Rs 129.03 under the dividend options.

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The objective of the scheme,an open-ended income oriented plan,is primarily to provide regular income to its investors by investing not more than 30 per cent of the funds in equities and balance in debt and money market instruments,the statement said.

As of December 31,2011,UTI MF managed average assets of Rs 57,817.34 crore.

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