UTI Grandmaster has declared a 15 per cent dividend (i.e. Rs.1.50 per unit on face value of Rs.10). The record date for the dividend is November 28, 2003.
UTI-Grandmaster was launched in April 1993 as a closed-end equity scheme. Later, in August 1996 it was converted to an open-ended fund. This is the fourth dividend payout from the fund after a gap of more than two years. The three dividends declared by the fund in the past are: 12 per cent in August 1996, 10 per cent each in May 2000 and March 2001.