NewZNew (Chandigarh) : UTI Balanced Fund declares tax-free dividend of 5% (Rs. 0.50 per unit on face value of Rs.10/) under dividend option-existing plan and dividend option –direct plan. Pursuant to the payment of dividend, the NAV of the dividend option-existing plan and dividend option-direct plan of the scheme would fall to the extent of payout.
The record date for the dividend is September 21, 2015.
All unit holders registered under the dividend option-existing plan and dividend option- direct plan of UTI Balanced Fund as on the record date will be eligible for this dividend. Also investors who join the dividend option -existing plan and dividend option-direct plan of the scheme on or before the cut off time of the record date will be eligible for the dividend.
The NAV of UTI Balanced Fund on September 15, 2015 under dividend option-existing plan was Rs.28.2682 and under dividend option-direct plan was Rs.28.5378.
UTI Balanced Fund was launched in 1995 as an open-ended balanced fund. The scheme aims to invest in a portfolio of equity/equity related securities and fixed income securities (debt and money market securities) with a view to generating regular income together with capital appreciation.