Asia Index has partially changed the methodology to select constituents of S&P BSE Dividend Stability Index -- which tracks performance of companies from S&P BSE LargeCap that have followed a policy of increasing or stable dividend income for at least 7 out of 9 years.
Under the revised methodology, a company's annual dividends per share (DPS)/ par value per share (PVPS) for the past two years must be at least 10 per cent, to be eligible for selection under S&P BSE Dividend Stability Index.
So far, the companies were required to have DPS/PVPS of at least 4 per cent for at least seven of the past nine years.
In a notice today, Asia Index Private Ltd said the revised methodology will take effect "prior to the market open on Monday, September 18, 2017, in conjunction with the implementation of the September 2017 rebalancing".
Other selection criteria such as requirement that the most recent DPS/ annual earnings per share (EPS) must be at least 4 per cent and less than 100 per cent remains unchanged.
Besides, Asia Index has not changed the criteria that the DPS/EPS for at least seven of the past nine years must be at least 4 per cent.
Eligible companies have to meet this criteria at each annual rebalancing of index.
Asia Index is a 50-50 partnership between S&P Dow Jones Indices and leading stock exchange BSE.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)