Guaranteed Justice Share Dividends of 1.5 Million Tomans Begin Phased Payout
In a move to enhance transparency and streamline welfare payments, the second phase of dividends from Iran’s Justice Shares scheme has been scheduled for deposit into shareholder accounts by the end of Shahrivar 1404 (late September 2024).
New System for Enhanced Efficiency
The Supreme Council of the Stock Exchange has implemented a significant change to the distribution method starting in the current Iranian year (1404). Instead of a single lump-sum annual payment, dividends will now be disbursed in several phases at specified intervals. This structural reform is designed to address past administrative challenges, increase the transparency of the process, and significantly reduce payment delays, ensuring a more reliable and orderly schedule for beneficiaries.
Details of the Upcoming Disbursement
This upcoming disbursement represents the dividend from the financial performance of the Justice Shares portfolio for the fiscal year ending in Esfand 1402 (March 2023). According to the Securities and Exchange Organization, experts anticipate the payout amounts to remain consistent with the first phase distributed in Esfand 1403 (February 2024). Under the new phased system:
- Holders of the 492,000 Toman shares will receive approximately 744,000 Tomans.
- Holders of the 1,000,000 Toman shares will receive over 1.5 million Tomans.
Ongoing Settlement Ensures Future Stability
The article notes that a potential slight delay in this cycle has been attributed to the ongoing final settlement process for dividends from a number of major listed companies, including Persian Gulf Holding, Mobarakeh Steel Company, and Iran Telecommunications. The completion of this settlement is currently underway, marking a key step in solidifying the financial underpinnings of the welfare scheme.
Shareholders who did not receive their dividend in the first phase are advised to verify and update their bank information with the relevant authorities to ensure successful deposit in this round. The implementation of this new, structured payment system underscores a continued commitment to improving the efficiency and reliability of this significant national welfare initiative.
