BIST Dividend 25 Index

BIST Dividend 25 is one of Borsa Istanbul's dividend-themed equity indices and is calculated under the code XTM25. The index is a selected subset of the broader BIST Dividend index. According to Borsa Istanbul's rule set, the BIST Dividend index includes companies that reported a profit in the annual financial statements of their last three fiscal years and paid cash dividends to shareholders in the period following those years.

For XTM25, the selection pool is limited to Star Market companies in the BIST Dividend index that fall within the upper two-thirds when ranked by the ratio of cash dividends paid to market price. From this pool, shares with a high free-float value and high average daily trading volume are selected; reviews are carried out for four periods during the year. On its index card, XTM25 is defined as a capitalization-weighted price index without weight caps, and its value is published in points on a Turkish lira basis.

Because it is a price index, distributed dividends are not added to the XTM25 level; a return version that accounts for dividends is calculated separately by Borsa Istanbul. Those following the index watch the dividend policies of constituent companies, general meeting decisions, the interest rate environment and periodic constituent changes. The XTM25 page on Lzzo.com presents points data obtained via Yahoo Finance, the historical chart and a technical indicator summary.