UTI Mastershare Unit Scheme declares tax-free dividend of 27.5% (Re 2.75 per unit on face value of Rs 10) under dividend option-existing plan and dividend option-direct plan. Pursuant to the payment of dividend, the NAV of the dividend option-existing plan and dividend option-direct plan of the scheme would fall to the extent of payout. The record date for the dividend is Nov. 5, 2014.

All unit holders registered under the dividend option-existing plan and dividend option- direct plan of UTI Mastershare Unit Scheme as on the record date will be eligible for this dividend. Also investors who join the dividend option -existing plan and dividend option-direct plan of the scheme on or before the cut off time of the record date will be eligible for the dividend.

The NAV of UTI Mastershare Unit Scheme on Oct. 30, 2014 under dividend option-existing plan was Rs 34.6895 and under dividend option-direct plan was Rs.34.9516.        

Swati Kulkarni, fund manager of the scheme said, ''The scheme is a growth seeker and looks for opportunities that have potential to beat the market on a long term investment perceptive. One of the key characteristics of the scheme is that it maintains a well diversified portfolio and avoids sector as well as stock concentration at all points of time. The scheme has generated moderate and steady returns in the past and it aims for consistency of above average returns.''