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- GPW starts the publication of two new total return indices mWIG40TR and sWIG80TR on 18 September
- The new indices join the family of price indices WIG20, mWIG40 and sWIG80 accompanied by total return indices
- The new indices will track the performance of SMEs which pay out dividends
GPW will start to publish two new total return indices, mWIG40TR and sWIG80TR, at the trading session on 18 September 2017. Unlike price indices which are calculated on the basis of current prices, total return indices include capital gains, such as dividends and earnings from the issue of shares with subscription rights. Consequently, the four indices will be published as both price indices and total return indices. GPW already publishes WIG20 and WIG30 in both these formats.
The terms of calculation and publication of the new indices will be the same as for WIG20TR. The mWIG40 and sWIG80 portfolios will be modified at the same time as the price indices, and the index values will be published three times per day: after the first and second fixing, and after the session close. The reference date of both new indices is 31 December 2009 and the reference value is the value of the price indices at that date.
"We start the publication of mWIG40TR and sWIG80TR to put in focus those small and medium-sized companies which pay dividends. We have seen many SMEs share their profits with shareholders, as demonstrated by the growing dividend yields in this issuer segment. I hope that the new indices will be of particular interest to financial institutions, especially the issuers of structured products and ETFs, for which the new indices may serve as the underlying" said Michał Cieciórski, Vice-President of the Management Board of the Warsaw Stock Exchange.
28 companies participating in mWIG40 and 32 companies participating in sWIG80 have paid dividends in 2017. The dividend yield of the indices is 2.8% and 2.3%, respectively. In both cases, 15 companies participating in each index have paid regular dividends in the last five years.
The first portfolios of the new indices match the mWIG40 and sWIG80 portfolios after trading session on 15 September 2017. The historical indices will be recalculated from the reference date backwards. The current values of the new indices will be available on the GPW website and from authorised news agencies.
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The Warsaw Stock Exchange (GPW) is one of the fastest growing exchanges in Central and Eastern Europe. GPW operates a regulated market of shares and derivative instruments and the alternative stock market NewConnect for growing companies. GPW is developing Catalyst, a market for issuers of corporate and municipal bonds. The Polish Power Exchange (PolPX), a member of the GPW Group since February 2012, offers trade in electricity, natural gas, property rights and guarantees of origin, and CO2 emission allowances. Since 9 November 2010, GPW is a public company listed on Warsaw Stock Exchange. For more information, visit http://www.gpw.pl
