Financial Daily from THE HINDU group of publications
Friday, Jul 16, 2004
Financial Daily from THE HINDU group of publications Friday, Jul 16, 2004 |
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Markets
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Mutual Funds UTI Master Plus to pay 30% Our Bureau
Mumbai , July 15 UTI Master Plus Unit Scheme declared a dividend of 30 per cent, that is Rs 3 per unit on a face value of Rs 10. The record date is August 2. Investors who join the scheme on or before August 2 will also be eligible for the dividend, stated a company press release. "As proposed in the Finance Bill 2004, dividend will be tax-free in the hands of the investors. The scheme had earlier declared a dividend of 10 per cent in July 2003," stated the release. The NAV as on July 12, 2004 was Rs 27.36. The scheme has provided returns to investors through capital appreciation as well as income distribution, according to the press release.
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