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09/06/2009 Dow Jones Indexes expands Select Dividend Index Series to Hong Kong

Dow Jones Indexes, launched the Dow Jones Hong Kong Select Dividend 30 Index. The index tracks

 

the performance of the top 30 Hong Kong listed companies by dividend yield.

The Dow Jones Hong Kong Select Dividend 30 Index is designed to underlie investment products such as exchange-traded funds, structured products, futures and options or serve as a benchmark for mutual funds. The index already has been licensed to underlie an index fund.

“The Dow Jones and Dow Jones STOXX Select Dividend index series follow a unique methodology which weights components by dividend yield, not market capitalization. This purely fundamentally-weighted index concept has proven effective in measuring the performance of a basket of high dividend-paying stocks,” said Michael A. Petronella, president at Dow Jones Indexes. “The Dow Jones Hong Kong Select Dividend 30 Index, which tracks the top 30 dividend-yielding companies in Hong Kong, is strictly rules-based to ensure transparency, accuracy and replicability.”

As of June 1, 2009, the Dow Jones Hong Kong Select Dividend 30 Index gained 21.2% year to date.1

To be eligible for inclusion in the Dow Jones Hong Kong Select Dividend 30 Index, a component must have paid dividends in each of the past three years and a five-year average payout of less than 85%. In addition, the company’s dividend-per-share in the previous year has to be higher than or equal to its three-year average. Each stock also must have a minimum daily average trading volume of US$3 million over the previous three months.

The Dow Jones Hong Kong Select Dividend 30 Index is weighted based on dividend yield. The weight of individual components in the index is restricted to 15%. The entire index composition of the Dow Jones Hong Kong Select Dividend 30 Index is reviewed annually in June. In addition, the index is subject to a quarterly review process in March, September and December, during which components with a dividend program at significant risk are removed. In such cases, the incoming company is added at the weight of the departing company.

The Dow Jones Hong Kong Select Dividend 30 Index is available in both price and total return versions, which are calculated in Hong Kong dollars and U.S. dollars. Daily historical index values are available back to December 31, 2004, with a base value set at 100.

The Dow Jones and Dow Jones STOXX Select Dividend Index series consists of 24 indexes for Asia, Asia/Pacific and EPAC regions, as well as the following countries: Australia, Canada, France, Germany, Hong Kong, Italy, Japan, the Netherlands, Spain, Sweden, Switzerland, the U.K., the U.S. and the Dow Jones Global Select Dividend Index; the Dow Jones STOXX Select Dividend 30 Index, Dow Jones EURO STOXX Select Dividend 30 Index, Dow Jones STOXX NORDIC Select Dividend 20 Index, Dow Jones STOXX EU Enlarged Select Dividend 15 Index, Dow Jones STOXX Americas Select Dividend 40 Index, Dow Jones STOXX Asia/Pacific Select Dividend 30 Index and the Dow Jones STOXX Global Select Dividend 100 Index.


Source: ETFWorld.com – Dow Jones Indexes

 


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