Samsung Asset Management Changes Dividend Distribution Method for KODEX US Market ETFs
Samsung Asset Management has announced a plan to gradually distribute retained dividends for its 'KODEX US S&P500' and 'KODEX US Nasdaq100' ETFs over 15 quarters. This decision follows a shift from a Total Return (TR) scheme to a Price Return (PR) scheme, which allows for the payment of previously accrued dividends under this new model.
According to Samsung Asset Management, dividends will be paid to registered holders on the last business day of January, April, July, and October each year, with actual payments occurring on the second business day of the following month. The distribution rate for the KODEX US S&P500 is approximately 0.27% and 0.14% for the KODEX US Nasdaq100 ETF.
This change has been implemented in response to amendments in the Income Tax Act, which requires Foreign Stock-type TR ETFs to distribute dividends at least once annually. The first distribution under the PR scheme will also be delivered, offering investors an initial experience with this new income distribution method.
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