State Street Global Advisors Announces Distribution for SPDR S&P/ASX 50 Fund
SFY (SFY) Share Update September 2024 Thursday 26th
State Street Global Advisors Announces Distribution for SPDR S&P/ASX 50 Fund
State Street Global Advisors, Australia Services Limited has announced a distribution for the SPDR S&P/ASX 50 Fund (SFY) for the period ending 30 September 2024.
Instant Summary:
- 80.6124 cents per unit cash distribution.
- 28.5259 cents worth of franking credits.
- 0.1042 cents worth of foreign tax credits.
- Record date for distribution is 30 September 2024.
- Distribution will be paid on 14 October 2024.
- Primary market for application or redemption closed on 27 September 2024, reopening on 30 September 2024.
Distribution Details
State Street Global Advisors, Australia Services Limited has announced a distribution for the SPDR S&P/ASX 50 Fund (SFY) for the period ending 30 September 2024. The distribution consists of 80.6124 cents per unit in cash, 28.5259 cents worth of franking credits, and 0.1042 cents worth of foreign tax credits.
The distribution is made up of various components, including 78.5543% net franked dividends, 1.3946% un-franked dividends, and 16.3051% conduit foreign income. Other income components include 1.4850% other Australian income and 1.6048% other foreign income.
Key Dates and Procedures
The record date for this distribution is 30 September 2024, and units will trade ex-distribution from the commencement of trading on 27 September 2024. The distribution will be paid on 14 October 2024. The primary market for application or redemption will be closed on 27 September 2024 and will reopen from 30 September 2024.
Distributions are automatically reinvested unless direct credit to a nominated bank account has been requested. The Distribution Reinvestment Plan (DRP) is operating for this distribution. For participants in the DRP, distributions will be reinvested in units in accordance with the rules of the Plan. Notifications of change of distribution payment method can be submitted to the registry up until close of business on 30 September 2024. The DRP is not available to any US investors.
Tax Implications
The SPDR S&P/ASX 50 Fund declares that it is a managed investment trust for the purposes of Subdivision 12-H of the Taxation Administration Act 1953 (TAA 1953) in respect of 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 the following components: Australian Sourced Income – Other Income, and Capital Gains Taxable Australian Property (Discounted – multiplied by 2, Indexation method, Other method).
This distribution announcement is likely to have a positive impact on the SPDR S&P/ASX 50 Fund's stock as it demonstrates the fund's ability to generate returns for its investors. The inclusion of franking credits and foreign tax credits further enhances the attractiveness of the distribution.
Investor Reaction:
Analysts are likely to view this announcement favorably, as it reflects the fund's strong performance and ability to provide substantial returns to its investors. The detailed breakdown of the distribution components also provides transparency, which is likely to be appreciated by investors.
Conclusion:
Investors should take note of the key dates and ensure their distribution payment methods are updated if necessary. The positive distribution announcement is a good indicator of the fund's performance, making it an attractive option for those looking to invest in the SPDR S&P/ASX 50 Fund.