Final Phase of ‘Sama’ Shares Profit Distribution Set for Late Summer
Iranian capital market officials have announced that the remaining dividends from the ‘Sama’ (Justice Shares) scheme for the fiscal year 1402 (March 2023 – March 2024) are anticipated to be deposited into shareholders’ accounts by the end of the Iranian month of Shahrivar (late September 2024). This final disbursement is contingent upon six remaining companies completing their transfers and the High Council of the Stock Market setting an official date.
A Two-Phase Distribution System
The initial installment of the 1402 fiscal year profit was distributed in Esfand 1403 (February/March 2024). Since then, there has been significant public interest and speculation regarding the timeline for the second and final payment.
Bahman Abdollahi, Head of Iran’s Chamber of Cooperatives and a member of the High Council of the Stock Market, clarified the process, stating, “Each year, the profit from Sama Shares is distributed among shareholders by the Central Securities Depository and the Ministry of Economic Affairs and Finance.”
The Debate Over Distribution
Abdollahi highlighted an ongoing policy discussion. Some experts advocate for the direct cash distribution of profits to citizens. Critics of this method, however, argue that sums between 500,000 to 1 million tomans can be negligible in an inflationary environment. An alternative viewpoint suggests reinvesting the remaining 92 trillion tomans of profit to enhance the portfolio’s overall value and fund national investment projects.
Despite this debate, Abdollahi confirmed that the established method of direct distribution used in previous years will be upheld. The second phase is projected for mid to late Shahrivar.
How the Profits Are Paid
Mehdi Haji Vand, Assistant to the Head of the Securities and Exchange Organization for Sama Shares, provided further details on the mechanics. “After a 10-year legal period for settling installments ended in 1395 (2016), the annual profits from the portfolio companies have been directly deposited into shareholders’ accounts,” he explained.
He emphasized a key distinction from other social subsidies: “This profit is deposited into the individual’s specific bank account number registered on the Sejam system. Unlike subsistence subsidies, which are paid to the head of the household, the Sama Shares dividend is deposited directly into the account of the eligible person.”
A New Timetable for Transparency
This year marks a shift towards greater predictability. The second portion of the 1402 profit, which ranges from approximately 744,000 to 1.513 million tomans depending on the share type, will be paid by the end of Shahrivar (September). This is notably earlier than in previous years, when payments often occurred in autumn or winter.
A new resolution by the High Council of the Stock Market has changed the payment procedure from 1404 onwards. Profits will now be distributed in several phases at shorter intervals to prevent the delays experienced in prior years.
Background on the Sama Shares Initiative
The Sama Shares scheme, launched in the mid-2000s based on the general policies of Article 44 of the Constitution, is one of the largest national asset distribution programs in recent history. It was initiated with three primary objectives: fostering a “people-centric economy,” reducing state intervention in business, and strengthening national social capital.
Under this program, shares of state-owned companies were transferred to eligible citizens, primarily from low-income backgrounds, either directly or through provincial cooperative companies. This initiative aligns with the national policy of privatization and improving the livelihood of vulnerable segments of society.