Nov 02, 2007, 03.14 PM | Source:

UTI Mastershare declares 35% dividend

UTI Mutual Fund has announced a dividend of 35% in its UTI Mastershare, the record date for the dividend is November 7, 2007.

UTI Mutual Fund has announced a dividend of 35% (Rs 3.50 per unit on a face value of Rs.10). in its diversified equity scheme - UTI Mastershare. 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.  (Check out - Recent MF Dividends )  

The record date for the dividend is November 7, 2007. All unitholders registered under the dividend option of UTI Mastershare as on November 7, 2007 will be eligible for this dividend.

UTI Mastershare has a track record of consistent dividend distribution for the last 21 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 November 1, 2007 was Rs.42.91 under the dividend option.

The last dividend declared by the scheme was of  30% in November 2006. Over the last one year; UTI Mastershare has yielded 64.07% as against 56.15% given by its benchmark BSE 100, as on October 29, 2007.

Swati Kulkarni, fund manager of UTI Mastershare said, “The scheme has consistently declared dividends year after year since its launch in 1986, even during the bearish phases of the market. UTI Mastershare is positioned as a conservatively managed large cap oriented fund which invests in a well diversified portfolio of fundamentally strong companies. The scheme is trusted by over 5 lakh investors and has a fund size of over Rs.2700 crore” 

UTI Mastershare is an equity-oriented scheme, which was made open end with effect from September 12, 2003. The objective of the scheme is to provide unitholders the benefits of capital appreciation and income distribution through investment in equity/ equity-related instruments, fully convertible bonds/debenture of companies.

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