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Bolsas y Mercados Españoles (BME) has created a new tradable index called IBEX TOP DIVIDENDO®, which will show the performance of the companies offering the highest dividend yields on the Spanish stock market. The calculation and dissemination, in real time, of the new index will start the first week of May.
The purpose of this indicator is to gauge the performance of the companies included in the IBEX 35®, IBEX MEDIUM CAP® and IBEX SMALL CAP® indices that offer the highest dividend yields.
The IBEX TOP DIVIDENDO®, is a trackable and tradable index, that is, its calculation will make possible the issuance of financial products based on the index, such as exchange traded funds (ETFs), index funds or derivatives. The index will include the 25 companies with the highest dividend yield on the Spanish market.
The constituents’ weighting in this index will be based on their dividend yield adjusted by free float capital. Their liquidity coefficient will vary depending on whether the constituents are included on the IBEX 35®, IBEX MEDIUM CAP® o IBEX SMALL CAP®.
The calculation of the index will be made in accordance with the technical regulations for the composition and calculation of IBEX® indices. The IBEX 35® Technical Advisory Committee will review the composition of this index on an annual basis.
