Mumbai: UTI Mutual Fund on Tuesday declared tax-free dividend of 9 percent for its scheme UTI Opportunities Fund.
The record date for the dividend is April 19, the company said in a statement.
All unit holders registered under the dividend option of the scheme as on April 19, would be eligible for dividends.
As on April 13, the NAV per unit of UTI Opportunities Fund was Rs 14.31 under the dividend option.
UTI Opportunities Fund is an open-ended equity fund. The investment objective of the scheme is to generate capital appreciation and income distribution by investing in equity and equity-related instruments.
UTI Opportunities Fund predominantly invests in four to five sectors that are expected to outperform the broader market in short to medium term.
As of March 31, UTI MF managed average assets of Rs 58,922.14 crore.
First Published: Tuesday, April 17, 2012, 21:14