Backed by improved performance during the last six months, Administrator of the Specified Undertaking of the Unit Trust of India has declared an additional income distribution of 2 per cent under MIP 2000 (II), MIP 2000 (III) and MIP 2001.
The rates of income distribution under these schemes are declared in the beginning of the financial year based on the earning potential of the respective schemes and usually not changed during the year. For the period April 1, 2003 to March 31, 2004, the rates of income distribution had been declared under MIP 2000 II, MIP 2000 III and MIP 2001 at the rate of 4 per cent each in the former two and 5 per cent in the latter.
The additional income distribution of 2 per cent now declared will be paid as one time payment to all the unit holders in the schemes MIP 2000 II, MIP 2000 III and MIP 2001 as on 30th September, 2003. Under the cumulative option, the additional income distribution would be reinvested.
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