UTI AMC recommends final dividend of ₹22 per share, scrip trading at dividend yield of 3.34%

UTI Asset Management Company said in a stock exchange filing that its board of directors has “recommended a final dividend of Rs. 22 per equity share of face value of Rs. 10 each for the financial year ending March 31, 2023, of the company.” Subject to the approval of the shareholders in the 20th Annual General Meeting.

UTI Asset Management Company has declared an equity dividend of 210.00% on face value 10, or 21 per share, for the financial year ending March 2022. This generates a dividend yield of 3.19% at the current share price. 657. As per Trendline data, UTI Asset Management Company Limited has declared 3 dividends since November 19, 2020.

The company said that its revenue from operations was flat during Q4FY23 301 crores. Company’s net income reached 309 Cr during Q4FY23, up 1% YoY 305 crore during Q4FY22. UTI AMC said its net expense has reached 192 Cr during the quarter ended March 2023, down 8% YoY 208 crore in the year-ago quarter. UTI AMC said its net profit of Rs. 86 crore during the quarter under review, a growth of 59% from Rs. 54 crore was recorded in the year-ago quarter.

UTI AMC stated that its net AUM has reached 15,55,995 Cr, Mutual Funds stood at Q4AUM 2,38,791 Crore, and reached other AUM 13,17,204 crore during the quarter. its sales reached 2,26,650 Cr, total SIP sales 1,667 crore and live folios were standing 1.22 crore during Q4FY23. “Our SIP AUM grew by Rs 3,199 crore or 17.47% from Rs 18,311 crore as on March 31, 2022 to Rs 21,509 (2) crore as on March 31, 2023. Increasing the number of mutual fund distributors selling SIPs and their share is a special priority for the wallet sales engagement strategy,” said UTI AMC in a stock exchange filing.

Shares of UTI AMC on NSE on Friday 657 each level, down 0.05% from previous close 657.30.