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Subject:  NEW DJ Dividend Index Date:  10/30/2003  1:12 PM
Author:  NiceGuyMax Number:  391 of 922

Seems as though the 15% rate for taxing
dividends has spawn a new index and ETF.

Dow Jones to launch dividend Index (DJ) By Greg Morcroft
NEW YORK (CBS.MW) -- Dow Jones Indexes, a unit of Dow Jones (DJ) , said Thursday it's launching the Dow Jones Select Dividend Index, which will include 50 stocks derived from the Dow Jones U.S. Total Market Index. To be eligible for inclusion in the index, a stock must have a positive historical five-year dividend per share growth rate, an average five-year dividend payout percentage rate less than or equal to 60 percent and an annual average daily dollar trading volume greater than $1.5 million. Those stocks will then be screened for dividend yield, and the top 50 yielding stocks will makeup the new index. "With new lower U.S. tax rates on dividends, more investors are becoming interested in companies issuing dividends. The Dow Jones Select Dividend Index allows investors to track these companies and to participate in the return on income of the highest-yielding stocks in the U.S.," Dow said in a press release. The company said it expects to license the first exchange traded funds based on the index by year-end.

-- MrMax --
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