UTI Banking Sector Fund today declared tax-free dividend of 25% for its scheme UTI Banking Sector Fund.
The record date for the dividend is May 9, the company said in a statement.
All unit holders registered under the dividend options of the scheme as on May 9 would be eligible for dividends.
As on May 3, the NAV per unit of UTI Banking Sector Fund was Rs 21.87 under the dividend options.
UTI Banking Sector Fund is an open-end equity oriented scheme. The investment objective of scheme is to provide investors the benefits of capital appreciation and income distribution by investing in stocks of companies/institutions engaged in the banking and financial services activities.
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