S&P GCC Composite Shariah Dividend Index Launched by S&P Dow Jones Indices
PR Newswire
DUBAI, United Arab Emirates

DUBAI, United Arab Emirates, Jan. 22, 2014 /PRNewswire/ -- S&P Dow Jones Indices today announced the launch of the S&P GCC Composite Shariah Dividend Index which is designed to measure the performance of the highest yielding, Shariah-compliant stocks from the Gulf Cooperation Council (GCC) region that meet respective liquidity, dividend growth, and dividend sustainability criteria. 

The S&P GCC Composite Shariah Dividend Index universe is drawn from the S&P GCC Composite Shariah Index which offers investors a comprehensive Shariah-compliant benchmark for the six GCC Arab states – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE). The S&P GCC Composite Shariah Dividend Index is comprised of the 30 highest yielding stocks from the eligible universe, subject to a minimum of two stocks per country. The Index constituents are weighted by their indicated annual dividend yield.

"Dividend indices have been very popular given the low interest rate environment," says Michael Orzano, Associate Director of global equity indices at S&P Dow Jones Indices. "The S&P GCC Composite Shariah Dividend Index was developed based on feedback from Islamic GCC investors who are looking for equity income while remaining Shariah-compliant."

For more information on the S&P GCC Composite Shariah Dividend Index, please visit: www.spdji.com.

About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 830,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com

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SOURCE S&P Dow Jones Indices