State Street Global Advisors Announces Distribution for SPDR S&P/ASX Australian Government Bond Fund – 30 September 2024
SPDR S&P/ASX AUSTRALIAN GOVERNMENT BOND FUND (GOV) Share Update September 2024 Thursday 26th
State Street Global Advisors Announces Distribution for SPDR S&P/ASX Australian Government Bond Fund
State Street Global Advisors, Australia Services Limited, has announced a distribution for the SPDR S&P/ASX Australian Government Bond Fund (GOVT) for the period ending 30 September 2024.
Instant Summary:
- Distribution of 14.4061 cents per unit.
- Record date for distribution is 30 September 2024.
- Distribution will be paid on 14 October 2024.
- Distribution Reinvestment Plan is available.
- Primary market for application or redemption will be closed on 27 September 2024.
Distribution Details
State Street Global Advisors, Australia Services Limited (SSGA, ASL), has announced a distribution of 14.4061 cents per unit for the SPDR S&P/ASX Australian Government Bond Fund (GOVT) for the period ending 30 September 2024. This distribution is composed entirely of interest income, with 0.3812% subject to non-resident withholding tax (NR WHT) and 99.6188% not subject to NR WHT.
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.
Distribution Reinvestment Plan
The Distribution Reinvestment Plan (DRP) is operating for this distribution. Participants in the DRP will have their distributions 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 the close of business on 30 September 2024. Note that the DRP is not available to any US investors.
Tax Information
The SPDR S&P/ASX Australian Government Bond Fund is declared a managed investment trust for the purposes of Subdivision 12-H of the Taxation Administration Act 1953 (TAA 1953) for the income year ending 30 June 2025. This distribution relates to the trust’s year of income ending 30 June 2025. The 'Fund Payment' portion of the distribution is calculated as the sum of Australian Sourced Income and various methods of Capital Gains Taxable Australian Property.
If you have any queries, please contact the registrar, Link Market Services Limited, on 1300 665 385.
This distribution announcement is likely to have a neutral to slightly positive impact on the company's stock. Regular distributions are generally seen as a sign of stability and can attract income-focused investors. However, the lack of franking credits or foreign tax credits may limit the appeal to some investors.
Investor Reaction:
Analysts are likely to view this announcement as a routine update, with little immediate impact on the broader market. The stable distribution may reassure current investors, but it is unlikely to drive significant new interest.
Conclusion:
Investors should take note of the distribution dates and consider the benefits of the Distribution Reinvestment Plan. Staying informed about the fund's performance and future distributions will be crucial for making well-informed investment decisions.