Starting today, the Vienna Stock Exchange will calculate and publish the ATX Distributing and the ATX Top Dividend Distributing. The two new indices are a dividend distributing version of their underlying indices. Dividends play an important role when analysing total return on investment. The calculation of distributing indices is our response to demand for portraying additional dividend strategies.
Unlike total return indices, which reflect the reinvestment of dividends, distributing indices take the payout of dividends into account. The new index design therefore introduces a theoretical cash component that replicates the net dividend payments plus daily accrued interest according to the EONIA interbank rate. The distribution of the cash accumulated theoretically is reflected by resetting the cash component to zero twice a year.
The ATX Distributing and the ATX Top Dividend Distributing are designed as tradable indices that can be used as underlyings for structured products as well as for standardised derivatives. The two indices are calculated on a real-time basis in EUR.
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