Stanbic IBTC Assets Exchanged Traded Funds to Pay N5.28 Dividend

Stanbic IBTC Asset Management Limited (SIAML) is to reward investors in the Pension Exchange Traded Fund (ETF) 40 and Stanbic IBTC ETF 30 with dividends. While investors in the SIAML Pension ETF 40 will receive a dividend of N2.55, those in Stanbic IBTC ETF 30 will get N2.73 per unit.

In a notification to the Nigerian Stock Exchange (NSE), SIAM said the qualification date for both is September 13 and payment date is 17, 2018.

The SIAML Pension ETF 40 is an ETF that mirrors the Pension 40 Index (Pension Index),replicating as closely as possible the total return of The NSE Pension 40 Index.

Chief Executive, SIAML, Bunmi Dayo-Olagunju had said the primary objective of the SIAML Pension ETF 40 was to provide investors access to the most liquid publicly quoted companies on the NSE that are compliant with the regulatory requirements for investing pension assets in terms of taxable profits, free float, dividend, sector and individual stock weighting.

“The SIAML Pension ETF 40 is designed as an instrument of choice for PFAs, Life Assurance companies, institutional investors, as well as foreign portfolio managers who are desirous of the Nigerian exposure with minimal liquidity and exit risk,” Dayo-Olagunju stated.

Highlighting some of the benefits of the ETF, DayoOlagunju said it would provide investors with a strategic exposure to the equities market, allowing for flexibility, cost effectiveness, diversification of investment, as well as liquidity. She added that it would act as a benchmark for PFAs to measure performance and report same to Retirement Savings Account (RSA) holders.

She assured that SIAML will continue to leverage its expertise in asset and wealth management, built over the past 20 years, as well as the Stanbic IBTC Group’s rich heritage in corporate and investment banking to provide quality products and services that will not only deepen the market but enhance transparency, add value and lead to investor confidence.

In a similarly vein, the Chief Executive, Stanbic IBTC Capital Limited, Mr.Funso Akere, commended SIAML for its efforts in deepening the Nigerian capital market through the introduction of new and innovative products with specific characteristics to meet the needs of various market categories.

Apart from SIAML as the fund manager, First Registrars and Investor Services Limited will serve as the registrar while Stanbic IBTC Capital is the issuing house. Stanbic IBTC Stockbrokers Limited is the authorized dealer; FBN Trustees Limited will serve as trustees while Standard Chartered Bank is the offer custodian.