SPDR S&P/ASX 50 Fund Final Quarterly Distribution Announcement
SFY (SFY) Share Update September 2024 Thursday 26th
SPDR S&P/ASX 50 Fund Announces Final Quarterly Distribution
SPDR S&P/ASX 50 Fund (ASX: SFY) has announced the final details of its quarterly distribution for the period ending 30 September 2024. This update includes important information regarding payment dates, distribution amounts, and the Dividend Reinvestment Plan (DRP).
Instant Summary:
- Final quarterly distribution announcement for SPDR S&P/ASX 50 Fund.
- Distribution amount per security is AUD 0.80612400.
- Payment date set for 14 October 2024.
- Record date for distribution is 30 September 2024.
- The primary market will be closed on 27 September 2024 and reopen on 30 September 2024.
- 78.5543% of the distribution is franked.
- Dividend Reinvestment Plan (DRP) is fully applicable.
Distribution Details
The SPDR S&P/ASX 50 Fund has announced its final quarterly distribution for the period ending 30 September 2024. The distribution amount per security is AUD 0.80612400, with a significant portion of 78.5543% being franked. The applicable corporate tax rate for franking credit is 31.0570%.
The record date for this distribution is 30 September 2024, and the ex-date is 27 September 2024. Investors should note that the primary market for application or redemption will be closed on 27 September 2024 and will reopen on 30 September 2024. This temporary closure is essential for processing the distribution accurately.
Payment and DRP Details
The payment date for this distribution is set for 14 October 2024. Investors who have opted for the Dividend Reinvestment Plan (DRP) will have their dividends reinvested according to the plan's rules. The DRP is fully applicable to this distribution, allowing investors to reinvest their dividends into additional securities of the SPDR S&P/ASX 50 Fund.
The last date and time for lodgement of election notices to participate in the DRP is 30 September 2024, at 17:00:00. The DRP price calculation will be based on the Record Date +1 Unit Price, covering the period from 1 July 2024 to 30 September 2024.
Tax and Additional Information
Further tax component information will be provided in a separate announcement on 27 September 2024. This will include details on interest, unfranked dividends, assessable foreign source income, and other relevant tax components.
Investors should also be aware that the DRP is not available to US residents. Additional conditions for DRP participation and further information about the DRP can be found in the plan rules provided by the fund.
The announcement of the final quarterly distribution is likely to have a positive impact on the SPDR S&P/ASX 50 Fund's stock price. The high percentage of franking credits and the availability of the DRP are attractive features for investors seeking tax-efficient income and reinvestment opportunities. The temporary closure of the primary market for application or redemption is a standard procedure and should not cause significant disruptions.
Investor Reaction:
Analysts are expected to react positively to the announcement, given the attractive distribution amount and the high percentage of franking credits. The availability of the DRP also provides flexibility for investors looking to reinvest their dividends. Overall, the announcement is likely to be well-received by the market.
Conclusion:
Investors should take note of the key dates and details provided in this announcement. The final quarterly distribution offers a compelling opportunity for income and reinvestment. Staying informed about further updates and tax information will be crucial for making informed investment decisions.