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No dividend for US-64

MUMBAI JUNE 21 . Unit Trust of India today decided not to declare a dividend for its flagship scheme US-64 for the year ending June 30, 2002.

The board of trustees, which met today to review US-64, said the dividend was not possible because the Government had been providing budgetary support to the unit holders to the extent of gap between the net asset value (NAV) and the repurchase price decided on July 15, and effective from August 1, 2001.

In addition, there was also the budgetary commitment of Rs. 10 per unit on May 31, 2003 in respect of units in excess of 5,000 units per unitholder— PTI

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