Asia Index launches S&P BSE dividend stability index

Asia Index, a BSE and S&P Dow Jones Indices joint venture, today launched an indice to measure the performance of large-cap companies with a stable dividend payment history.
The new indice -- S&P BSE Dividend Stability Index -- comprises stocks that have followed a policy of offering increasing or stable dividends for at least seven out of nine years, as per the methodology.
The constituents of the index are selected from the S&P BSE LargeCap Index.
"The stock selection approach of the S&P BSE Dividend Stability Index is designed to offer investors exposure to companies in the large cap space that have a stable dividend payment history. This Index can serve as the basis for the creation of low cost products such as ETFs (exchange traded funds)," Asia Index Private Limited CEO Alka Banerjee said in a statement.

The index constituents are weighted based on their float adjusted market capitalisation and the index composition is reviewed annually in September. The Index values are calculated on an end-of-day basis, and are available in Indian Rupees and US Dollars.
The S&P BSE Dividend Stability Index is part of the strategy family of S&P BSE Indices.
Earlier in June, Asia Index had launched S&P BSE India manufacturing index to measure the performance of 30 leading manufacturing and production companies.