UTI Mutual Fund has declared dividend for UTI Dividend Yield Fund, an open ended equity scheme.
The quantum of dividend will be 4% or up to 90% of distributable surplus available as on the record date, whichever is lower, to be rounded off to multiple of 0.50% on the lower side, so as to remain within the limit of 90% of distributable surplus.
The investment objective of the scheme is to provide medium to long term capital gains and / or dividend distribution by investing predominantly in equity and equity related instruments, which offer high dividend yield. The record date for dividend distribution is 30th November 2011.
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