UTI Dividend Yield Fund declares tax-free dividend of 5%

UTI Mutual Fund today declared tax-free dividend of 5 per cent for its scheme UTI Dividend Yield Fund.

The record date for the dividend is May 30, the company said in a statement.

All unit holders registered under the dividend options of the scheme as on May 30 would be eligible for dividends. Also investors who join the dividend option of the scheme on or before the record date will be eligible for the dividend, it added.

As on May 24, the NAV per unit of UTI Dividend Yield Fund was Rs 14.34 under the dividend options. UTI-Dividend Yield Fund is an open-ended equity oriented scheme. The investment objective of the scheme is to provide medium to long-term capital gains and dividend distribution.

Source: http://articles.economictimes.indiatimes.com/2011-05-25/news/29581715_1_tax-free-dividend-dividend-options-record-date