UTI Unit Scheme for Charitable and Religious Trusts and Registered Societies (UTI-CRTS) declares a dividend resulting in gross pay out of 5% (Rs. 5 per unit on a face value of Rs. 100/-). This pay out includes the applicable dividend distribution tax. The record date for the dividend is June 26, 2013.
Pursuant to the payment of dividend, the NAVs of the dividend option- existing plan and dividend option-direct plan of the scheme would fall to the extent of payout and statutory levy if any.
Considering the dividend distribution tax, the payout translates into a dividend of 3.73% (Rs. 3.73 per unit on a face value of Rs. 100/-) for the UTI-CRTS investors.
The NAV of UTI CRTS on June 20, 2013 under dividend option-existing plan was Rs. 136.8864 and under dividend option-direct plan was Rs. 137.0888.
UTI-CRTS is an open-ended income scheme which caters to the investment needs of Charitable, Religious and Educational Trusts as well as Registered Societies. The objective of the scheme is primarily to provide regular income to its investors by investing not more than 30% of the funds in equity/ equity related instruments and balance in debt and money market instruments.
Amandeep Chopra is the fund manager for the debt portion of the scheme and V Srivatsa is the fund manager for the equity portion of the scheme.
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