STOXX, a Swiss index solutions provider, has unveiled the STOXX ASEAN-Five Select Dividend 50 Index, a new dividend index for ASEAN region.
According to STOXX, the new index will select the 50 highest dividend paying companies from five member states of the Association of Southeast Asian Nations (ASEAN). It is specifically designed to underlie exchange-traded funds and other investable products.
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The STOXX ASEAN-Five Select Dividend 50 Index will comprise of 50 companies with high dividend payments from the following five ASEAN member states: Indonesia, Malaysia, Philippines, Singapore and Thailand.
To be eligible for inclusion in the new index, a company must be a component of the STOXX Asia Total Market Index, have an average daily trading volume (ADTV) of at least US$1.5 million over the last three months at the time of selection and a dividend pay-out ratio of 80% or less.
STOXX said that all stocks that meet the above criteria will be ranked by their 12 month historical dividend yield, and the top 50 will be selected for inclusion in the index.
However, REITs companies will be excluded from the index. To prevent the index being dominated by one country, the maximum number of companies that can be included per country is 15.
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By GlobalDataHartmut Graf, CEO of STOXX, said: "The STOXX ASEAN-Five Select Dividend 50 Index is aimed at market participants who believe in the long-term growth of this region and at the same time want to participate from the dividend return of the region’s top dividend yielding companies. We are pleased to be the first index provider to offer such a concept."
