UTI Banking Sector Fund declares 35% dividend

UTI Mutual Fund has announced a dividend of 35% (Rs3.50 per unit on face value of Rs10/-) in its UTI Banking Sector Fund. Pursuant to the payment of dividend, the NAV of the dividend option of the fund would fall to the extent of payout and statutory levy if any.

The last dividend announced by the scheme was of 25% in September 2005. Over the last one year, UTI Banking Sector Fund has yielded 32.46% as compared to 18.92% given by its benchmark S&P CNX Banks as on May 16, 2007.