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UTI Petro Fund Announces Dividend

UTI Petro Fund has announced a dividend of 15 per cent (Rs 1.5 per unit). The record date for the same has been fixed as March 11, 2002. The current payout is second in line since its launch in June 1999. However, its up from the first dividend of 12 percent declared in December 2000. The fund has posted a total return of 26.98 per cent, as on February 25, 2002.

UTI Petro is among the two funds, which invests only in petro stocks. The other one is JM Basic. The fund's 70 per cent of portfolio consists of PSU stocks. With the current surge in PSU stocks, the fund has posted a three-month return of 45.32 per cent, as on February 25, 2002.