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UTI Unit Scheme for Charitable and Religious Trusts and Registered Societies (UTI-CRTS) has declared a dividend payout of seven per cent. It includes the applicable dividend distribution tax. The record date for the dividend is November 12, 2012.
Considering the dividend distribution tax, the payout translates into a dividend of 5.29 per cent (Rs.5.29 per unit on a face value of Rs 100) for the UTI-CRTS investors.
The open-ended income scheme caters to 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 per cent of the funds in equity/ equity related instruments and balance in debt and money market instruments.
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