Title: Iran’s ‘Justice Share’ Program Announces Second Dividend Payout for September 2024
Tehran – The second tranche of dividends for the ‘Saham-e Edalat’ (Justice Share) scheme has been officially confirmed for disbursement by the end of the Iranian month of Shahrivar (September 2024). This announcement, made by the country’s Securities and Exchange Organization, confirms the continuation of this significant social welfare initiative.
A Summer Payout for Shareholders
In a shift from previous years, this installment of the dividend is being processed during the summer months. The payment pertains to the financial performance of the scheme for the fiscal year ending in March 2024. This strategic move is part of a broader effort to streamline the distribution process and ensure timely benefits for citizens.
Expected Dividend Amounts
Eligible Iranians holding shares in the program can expect to receive the following approximate amounts, consistent with the first payout earlier this year:
- For holders of the 492,000-toman share package: Approximately 744,000 tomans.
- For holders of the 1,000,000-toman share package: Over 1,500,000 tomans.
A New, Streamlined Payment Mechanism
A key development for the current year is the change in the payment mechanism approved by the Supreme Council of the Stock Market. Instead of a single, consolidated annual payment, dividends will now be distributed in several installments at specified intervals. This new system is designed to create a more precise and efficient schedule, significantly reducing payment delays and enhancing the experience for millions of beneficiaries.
Ensuring a Smooth Process for All
The minor delay in initiating this second phase was attributed to the finalization of settlement procedures from a number of major investing companies, including the Persian Gulf Holding (Faras), Mobarakeh Steel Company (Foolad), and Iran Telecommunications (Akhaber). These settlements are now being completed to facilitate the imminent payout.
Authorities have advised all shareholders, particularly those who did not receive the first installment due to banking information issues, to verify and update their details with the relevant institutions. This crucial step ensures their accounts are ready to receive the upcoming dividend without interruption.
The ‘Justice Share’ program remains a cornerstone of the nation’s policies aimed at promoting economic justice and broadening public ownership of productive assets, directly delivering corporate profits to a wide segment of the population.