The UTI Charitable & Religious Trust & Registered Society (UTI-CRTS) has declared a dividend of Rs 3.50 a unit on a face value of Rs. 100 and the record date for the dividend has been fixed at 22 March.

The dividend payout includes the income distribution tax, according to a release from the fund house. After the tax, the payout would be about Rs. 2.64 per unit on a face value of Rs. 100 for all CRTS investors. The NAV per unit as on March 16, 2012 was Rs. 129.0261 under the dividend option.

The scheme is an open-ended debt oriented Income scheme for the investors. It aims at investing upto 30% of the funds in equity linked securities and the remaining in debt and money market instruments that have low to medium risk profile.

The mutual fund is designed to provide regular income to Charitable, Religious and Educational Trusts as well as Registered societies. The fund manager for the mutual fund is Amandeep Chopra from the company.

The total asset under management for UTI MF was recorded at Rs. 57,817.34 crore as on 31 December 2011.