UTI Mid Cap Fund declares tax-free dividend

UTI Mid Cap Fund declares a tax-free dividend of 25% (Re.2.50 per unit on face value of Rs.10) under dividend option-existing plan and dividend option –direct plan. Pursuant to the payment of dividend, the NAV of the dividend option-existing plan and dividend option-direct plan of the scheme would fall to the extent of payout.

The record date for the dividend is February 27, 2017.

All unit holders registered under the dividend option-existing plan and dividend option- direct plan of UTI Mid Cap Fund as on the record date will be eligible for this dividend. Also, investors who join the dividend option-existing plan and dividend option-direct plan of the scheme on or before the cut-off time of the record date will be eligible for the dividend.

The NAV of UTI Mid Cap Fund on February 21, 2017, under dividend option-existing plan, was Rs.52.3043 and under dividend option-direct plan was Rs.55.3332.

UTI-Mid Cap Fund is an open-ended equity scheme. The investment objective of the Fund is ‘capital appreciation’ by investing primarily in mid-cap stocks.

The portfolio of UTI-Mid Cap Fund is primarily invested in dynamic and well managed medium sized enterprises having higher growth potential vis-à-vis their well-established counterparts. The fund primarily invests in stocks which only constitute the Nifty Free Float Midcap 100 index.

Mr. Lalit Nambiar is the fund manager of the scheme.