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UTI RIS Declares Monthly Dividend

UTI Regular Income Scheme has declared a dividend of 0.60 per cent (Rs.0.060 per unit on a face value of Rs.10). The investors existing in the books on the close of business of July 31, 2003 and have opted for income option, are eligible for the dividend.

UTI RIS, launched in September 2002, is an open-ended monthly income plan with no assured returns. The scheme invests 90 per cent in corporate debt and G-Secs and maximum of 10 per cent in equities. Presently, it has about 6.8 per cent in equities. The minimum investment in the scheme is Rs.1,000 for growth option and Rs.30,000 for monthly dividend option. The scheme charges no entry load, but an exit load of 0.50 per cent is charged if investment is redeemed within 3 months.