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ImportantNotice:
1.ThisEnglishversionisnotanofficiallyaccuratetranslationoftheoriginalThaidocument.
InanycaseswheredifferencesarisebetweentheEnglishversionandtheoriginalThaiversion,
theoriginalThaidocumentwillprevail.
2.TheSETshallnotacceptanyresponsibilitiesfordamagescausedbyanyerrors,inaccuracies,
misunderstandingsormisspellingswithregardtothetranslationofthisdocument
3.Thisdocumentcanbeusedonlyforreference.Anyformsofpublishing,copyordistributionof
informationinthisdocumentarestrictlyprohibited.TheStockExchangeofThailand(TheSET)
reservestherightstoclaimcompensationfromviolatorsforanydamagesSETmaysufferfrom
thecontraventionoftheseconditions.
4.TheSETcalculatesallitsindexseriesinaccordancewiththemethodmentionedinthis
document.IfanyeventnotdescribedbelowoccursortheSETdecidesitisimpossibletousethe
followingmethod,theSETwilluseanalternativemethodofcalculationitdeemsvalid.
Total Return Index Calculation Methodology
Total return Index measures market performance, including price movements (capital gain/loss),
rights offered to current shareholders allowing them to purchase additional shares, usually at a
discount to market price (rights offering), and income from dividend payments (dividends) assuming
they are reinvested in securities.
Currently, The Stock Exchange of Thailand (SET) can supply SET Total Return Index (SET TRI),
SET50 Total Return Index (SET50 TRI), SET100 Total Return Index (SET100 TRI), mai Total Return
Index (mai TRI) and Total Return Index by Industries (Industry TRI). Each index is an indicator of the
performance of a group of securities. Based value is 1,000 points.
Calculation Method
t
t-1
=
=
=
t-1
t
t
i =1
TRt =
1 + Total Dividend Yield
n
t
( Clo sin g Pr ice Outs tan ding Shares ) ( Adjusted Pr ice Adjusted Shares)
t1
t1
i = 1
n
(Dividend per share Outs tan ding Share s )
t-1
i =1
n
(Clo sin g Pr ice Outs tan ding Share s ) (Adjusted Pr ice Adjusted Shares)
t-1
t-1
i =1
TR t
Close Price t
Outstanding Share t
Close Price t-1
Outstanding Share t-1
Dividend per Share
Adjusted Price
Adjusted Shares
=
=
=
=
=
=
=
i =1
TRt =
1 + Total Dividend Yield
t
n
( Closing Price
Outstanding Shares ) ( Adjusted Price Adjusted Shares) Dividend Yield Weight
t -1
t -1
i = 1
[{
TR t
Close Price t
=
Outstanding Share t =
Close Price t-1
=
Outstanding Share t-1 =
Dividend per Share
=
Adjusted Price
=
Adjusted Shares
=
Dividend Yield Weight=
[{
n
(Dividend per share Outs tan ding Share s ) Dividend Yield Weight
t-1
i =1
n
Outs tan ding Share s ) (Adjusted Pr ice Adjusted Shares) Dividend Yield Weight
(Clo sin g Pr ice
t-1
t-1
i =1
Re-Investment Rules
1. Using Gross dividends to calculate the Total Return Indices
2. The types of dividends using to calculate Dividend Yield are as follows:
a. Normal Cash Dividend is dividend paid from net profit or retained earnings.
b. Special/Extra Dividend is dividend paid other than Normal Cash Dividend.
c. Capital Repayment
Remark: Stock Dividend does not include in the dividend yield
3
3. Timing of re-investment: The dividends are reinvested on the day the constituent is
posted ex-dividend (XD-date). If a constituent is not traded on its ex-dividend date, the
dividends will reinvest on the first subsequent day that the constituent be traded.
y
Adjustment
- Adjustment date: The next trading day after the day that
the constituent is listed
- Adjusted price: Closing price of the first trading day
- Adjusted share: Number of listed share
- Adjustment: Addition
- Adjustment date: The day is posted XR (XR-date)
- Adjusted price: Offering price
- Adjusted share: Number of newly issued share
- Adjustment: Addition
- Adjustment date: The day that newly issued shares are
listed
- Adjusted price: Closing price of the previous trading day
- Adjusted share: Number of newly issued share
- Adjustment: Addition
Corporate Action
Adjustment
8. Delisted Constituent
Same as item 1
Deletion
No adjustment
No adjustment