Review: Components of the STOXX Europe Maximum Dividend 40 Index

STOXX, the leading European index provider, launched a new index called “The STOXX Europe Maximum Dividend 40 Index“. Derived from the STOXX Europe 600 index, this index is a blue-chip index comprising the 40 highest dividend-yielding companies across Europe and represents companies with the highest expected dividend yield in the upcoming quarter.

The key features of the index include:

The index portfolio is reviewed quarterly in order to track as closely as possible the performance of the highest dividend-yielding companies and to take into account the fact that in Europe dividend payments take place frequently throughout the year.
The index portfolio is screened for liquidity based on two modes:

Index constituents must have a 3-months average daily trading value (ADTV) of at least EUR 4 million.
Stocks are selected on the basis of their liquidity-adjusted dividend yield
In order to generate a well diversified index portfolio, the weights of the components are capped at 10%.
The weighting of the single components is based on their expected liquidity-adjusted dividend yield: the higher the dividend yield of a company and the higher its liquidity, the higher its weight in the index.

The 40 components of The STOXX Europe Maximum Dividend 40 Index are listed below with their ADR tickers if available and the current dividend yields:

S.No. Company Sector Ticker Dividend Yield as of Dec 31, 2011
1 ACS Construction & Materials N/A  
2 ASTRAZENECA Healthcare AZN 5.83%
3 AURUBIS Basic Resources N/A  
4 BARCLAYS Banks BCS 3.22%
5 BCO BILBAO VIZCAYA ARGENTARIA Banks BBVA 7.29%
6 BCO SANTANDER Banks STD 11.55%
7 BHP BILLITON Basic Resources BBL 3.77%
8 BRITISH AMERICAN TOBACCO Personal & Household Goods BTI 4.06%
9 BRITISH LAND COMPANY Real Estate BTLCY 5.83%
10 BT GRP Telecommunications BT 4.10%
11 COMPASS GRP Travel & Leisure N/A  
12 CRH Construction & Materials 4.46%
13 ENAGAS Utilities ENGGY 6.79%
14 GAS NATURAL SDG Utilities GASNY N/A
15 GLAXOSMITHKLINE Healthcare GSK 4.83%
16 GRUPO ACCIONA Construction & Materials N/A  
17 HAMMERSON Real Estate N/A  
18 HSBC Banks HBC 4.72%
19 IBERDROLA Utilities IBDRY 1.37%
20 ICAP Financial Services N/A  
21 IMPERIAL TOBACCO GRP Personal & Household Goods ITYBY 4.08%
22 INFINEON TECHNOLOGIES Technology IFNNY 1.81%
23 KONE B Industrial Goods & Services KNYJY N/A
24 MEGGITT Industrial Goods & Services N/A  
25 NOVARTIS Healthcare NVS 4.13%
26 RECKITT BENCKISER GRP Personal & Household Goods RBGPY 3.90%
27 RED ELECTRICA CORPORATION Utilities RDEIY 6.63%
28 REPSOL YPF Oil & Gas REPYY 7.25%
29 ROCHE HLDG P Healthcare RHHBY 4.16%
30 RSA INSURANCE GRP Insurance RSANY 8.42%
31 SAGE GRP Technology N/A  
32 SCOTTISH & SOUTHERN ENERGY Utilities SSEZY 5.82%
33 SIEMENS Industrial Goods & Services SI 4.22%
34 SODEXO Travel & Leisure SDXAY 2.55%
35 SOLVAY Chemicals SVYZY 4.26%
36 STANDARD CHARTERED Banks N/A  
37 THYSSENKRUPP Industrial Goods & Services N/A  
38 TOTAL Oil & Gas TOT 6.32%
39 WARTSILA Industrial Goods & Services N/A  
40 ZODIAC AEROSPACE Industrial Goods & Services ZODFY 1.87%

Disclosure: Long BBVA, SAN, BTLCY

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