UTI-MNC Fund, an open-ended equity scheme, has declared tax-free dividend of 25% (Rs 2.50 per unit on face value of Rs10/-).
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 July 28, 2008.
UTI-MNC Fund was launched in April 1998. The objective of the scheme is to predominantly invest in equities and equity related instruments of Multinational Corporations and other liquid stocks.
The company said in an official release that all unit holders, which are registered under the dividend option of UTI- MNC Fund as on July 28, 2008 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.
The NAV per unit as on July 21, 2008 was Rs23.59 under the dividend option.
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