State Street Global Advisors Announces Distribution for SPDR MSCI Australia Select High Dividend Yield Fund
SPDR MSCI AUSTRALIA SELECT HIGH DIVIDEND YIELD FUND (SYI) Share Update September 2024 Thursday 26th
State Street Global Advisors Announces Distribution for SPDR MSCI Australia Select High Dividend Yield Fund
State Street Global Advisors, Australia Services Limited has announced the distribution details for the SPDR MSCI Australia Select High Dividend Yield Fund (SYI) for the period ending 30 September 2024.
Instant Summary:
- Distribution of 35.8316 cents per unit in cash.
- Additional 12.0929 cents per unit in franking credits.
- Distribution paid on 14 October 2024.
- Record date for distribution is 30 September 2024.
- Units trade ex-distribution from 27 September 2024.
Distribution Details
State Street Global Advisors, Australia Services Limited has released the distribution details for the SPDR MSCI Australia Select High Dividend Yield Fund (SYI) for the period ending 30 September 2024. The distribution amounts to 35.8316 cents per unit in cash, with an additional 12.0929 cents per unit in franking credits.
The distribution is composed of various income components, including 75.3086% net franked dividends and 24.0068% conduit foreign income. There are no amounts attributed to interest, capital gains, or other income categories.
Important Dates
The record date for this distribution is set for 30 September 2024, and units will trade ex-distribution starting from the commencement of trading on 27 September 2024. The distribution will be paid out on 14 October 2024.
Distribution Reinvestment Plan
Distributions are automatically reinvested unless a direct credit to a nominated bank account has been requested. The Distribution Reinvestment Plan (DRP) is active for this distribution, allowing participants to reinvest their distributions in units according to the plan's rules. Notifications for changes in distribution payment methods can be submitted to the registry until the close of business on 30 September 2024. Note that the DRP is not available to US investors.
Tax Information
The SPDR MSCI Australia Select High Dividend Yield Fund is declared a managed investment trust for the purposes of Subdivision 12-H of the Taxation Administration Act 1953 for the income year ending 30 June 2025. This distribution relates to the trust’s year of income ending 30 June 2025. For the purpose of Section 12-405 of Schedule 1 of the TAA 1953, the 'Fund Payment' portion of the distribution is calculated as the sum of Australian sourced income and taxable Australian property capital gains.
The announcement of the distribution is likely to positively impact the perception of the SPDR MSCI Australia Select High Dividend Yield Fund among investors seeking high dividend yields. The additional franking credits further enhance the attractiveness of this investment, potentially leading to increased demand for the fund's units.
Investor Reaction:
Analysts are expected to react positively to the announcement, given the high dividend yield and the added benefit of franking credits. This distribution aligns with the fund's objective of providing high dividend yields, which is likely to be well-received by current and prospective investors.
Conclusion:
Investors should consider the benefits of the announced distribution and the potential for reinvestment through the Distribution Reinvestment Plan. Staying informed about future distributions and the fund's performance will be crucial for making informed investment decisions.