UTI Mastershare, the first diversified equity scheme of the country declares a tax-free dividend of 27% (Re.2.70 per unit on a face value of Rs.10/-). Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of payout and statutory levy if any.
The record date for the dividend is October 30, 2009.
All unitholders registered under the dividend option of UTI Mastershare as on October 30, 2009 will be eligible for this dividend. Also investors who join the dividend option of the scheme on or before the record date will be eligible for the dividend.
UTI Mastershare has a track record of consistent dividend distribution for the last 23 years i.e. since its launch in September 1986. In addition, the scheme has also rewarded its investors with 3 bonuses and 2 rights during this period.
The NAV per unit as on October 23, 2009 was Rs.29.96 under the dividend option.
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Ms Swati Kulkarni, fund manager of the scheme said, “UTI Mastershare has been in existence since the last 23 years and has consistently declared dividends year after year since its launch in 1986, irrespective of the market phases. UTI Mastershare is a large cap oriented fund that invests, in a well diversified portfolio of fundamentally strong companies. The scheme is trusted by over 6.43 lakh investors and has a fund size of Rs.2238 crore”
UTI Mastershare is an equity-oriented scheme, which aims to provide unitholders the benefits of capital appreciation and income distribution through investment in equity/ equity-related instruments, fully convertible bonds/debenture of companies.
About UTI Mutual Fund
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.
UTI Mutual Fund has assets under management (average) of Rs.73588.80 crore and investor accounts of over 9.80 million under its 76 domestic schemes (as of September 30, 2009).
