Dividend Indices

Two dividend indices, namely BIST Dividend Index and BIST Dividend 25 Index are calculated.

The index consists of the stocks of companies traded on the Stars, Main and SubMarket , all of them having distributed cash dividends in the last 3 years.

The index consists of 25 stocks placed in the first 2/3 slice in the ranking of the constitutents of BIST Dividend Index in descending order according to dividend yield as of the review day and have the highest average free float market value.

BIST Dividend Index and BIST Dividend 25 Index have been calculated since July 1, 2011.

When choosing the equities to be included in BIST Dividend 25 Index, dividend yield is calculated using the following equation.  

Dividend            Dividend Paid (i) – Rights Issue Amount (i) 

                    = ------------------------------------------------------

 Yield (i)                               Market Value (i)

Wherein:

Dividend Yield (i): means dividend yield of the company "i" calculated as of the Appraisal Day

Dividend Paid (i): means the total gross amount of cash dividend paid by the company “i” in the prevailing fiscal period

Capital Increase Amount (i): means the sum of amounts found by multiplying the amount of rights issue which the company “i" carried out in the prevailing fiscal period by vesting preemptive rights to the shareholders by the rights issue price.

Market Value (i) : means market value of the company "i" on the Appraisal Day

Detailed information is available in "BIST Market Cap Weighted Stock Indices Ground Rules".

Please click for BIST Dividend and BIST Dividend 25 Indices constituents and weights for related index period.

Please click for BIST Dividend (XTMTU) and BIST Dividend 25 (XTM25) Indices constituents.