UTI MNC Fund declares 25% dividend

UTI Mutual Fund has declared a dividend of 25% (Rs 2.5 per unit on face value of Rs 10) in its open-ended growth oriented equity scheme - UTI MNC Fund. The objective of the scheme is the Fund collected under the scheme will be invested predominantly in stocks of Multinational Corporations and other Liquid stocks. The funds collected under the scheme shall be invested in equities and equitiy related instruments. (Check out - Recent MF Dividends )

All investors registered under the dividend option of the scheme as on July 28, 2008 will receive this dividend. The NAV under the dividend plan of the scheme as on July 21, 2008 was Rs 23.59.

The last dividend announced by the scheme was of 30% in May 2007.  Over the last one year, UTI MNC Fund has yielded negative returns of -19.1% as against -8.90% given by S&P CNX Nifty as on July 21, 2008. The scheme is benchmarked against S&P CNX MNC Index.

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