Announcement for December 21, 2023 at 09:22 PM GMT
THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES
On November 10, 2023, MSCI announced its intention to follow a revised process with respect to year end 2023 final dividends to be reinvested for Korean securities in the MSCI Daily Total Return Indexes.
MSCI notes that certain Korean companies have announced that the record date of year end 2023 final dividends will be determined by Board of Directors at the Board of Directors meeting to be held in 2024. Consequently, in addition to the updated treatment announced on November 10, 2023, MSCI does not intend to reinvest an estimated dividend amount for these companies with the ex-date of December 27, 2023.
Please see the updated process below with respect to year end 2023 final dividends to be reinvested for Korean securities in the MSCI Daily Total Return Indexes:
- MSCI will wait for the further announcement (on the ex-date and the dividend amount) and will not reinvest an estimated dividend for a company, which announces with sufficient advance notice:
o the dividend amount and the dividend ex-date as per the new dividend procedure
o that the dividend record date will be determined by Board of Directors at the Board of Directors meeting to be held in 2024
- For all other companies, MSCI will continue the estimation process according to section 2.3.6 of MSCI Index Calculation Methodology and reinvest the estimated dividends on the ex-date of December 27, 2023. Thereafter:
o If the company does not announce a change in ex-date, MSCI will reinvest the difference once the final dividend amount is available, as per the current methodology.
o If the company follows the new procedure and announces a change in ex-date, MSCI will disinvest the estimated dividend and will reinvest the new dividend on the new ex-date. No historical restatement will be applied.
THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES
End of announcement.
Further announcements may occur as needed.
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