FTSE treatment of ordinary cash dividends where the value is unknown on the XD date
Revision to current process

18 March 2014


FTSE announces that where no confirmed or estimated dividend value is available prior to the XD date, FTSE will apply an XD adjustment based on the dividend amount paid from the same period in the previous year (adjusted by any capital change).

Current Dividend Treatment

Where dividends that have been confirmed or estimated by the company prior to the XD date, the confirmed or estimated value is applied on the XD date.

Where dividends remain undetermined on the XD date, there is no adjustment on the XD date.

Once a company confirms or estimates a dividend subsequent to the XD date, it is applied on the next business day following the receipt of data.

New Dividend Treatment

Where dividends that have been confirmed or estimated by the company prior to the XD date, the confirmed or estimated value is applied on the XD date.

Where the dividend remains undetermined on the XD date, FTSE will apply the dividend amount paid from the same period in the previous year (adjusted by any capital change) on the XD date.

If there was no dividend paid from the same period in the previous year, a dividend value of zero will be used.

For dividends that are confirmed or estimated by the company after the XD date, a further positive or negative XD adjustment will be applied on the next business day following the receipt of data.

The revised treatment will become effective from 1 September 2014

Please note: This treatment applies to ordinary cash dividends only.


An updated version of the FTSE Global Equities Index Series Guide to Calculation Methods is now available on the FTSE website.

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