BAKU, Azerbaijan, Mar.18
Trend:
Owners of Justice Shares would receive 50 percent of their share's interest, said an official with the Central Securities Depository of Iran.
"Investment holding companies are currently paying the Justice share's interest to the Central Securities Depository of Iran and the company is pursuing to provide 100 percent of Justice share's interest to shareholders," said Mohammad-Reza Pourrezaee, Trend reports citing IRNA.
"Our efforts are to transfer 50 percent of Justice shares interest to owners account before the end of the current Iranian year (starts March 21, 2021). Investment holding companies are expected to fully pay the Justice shares' interest, if not the remaining profit would be paid in the new Iranian year," he noted.
Iran Minister of Economic Affairs and Finances has recently stated that there have been efforts during the past ten days for the investment holding companies would pay Justice Shares interest so it would be paid to shareholders before the new Iranian year.
Shareholders that own 10 million rials (about $238) worth of shares would receive 4 million rials (about $95) interest. Justice Shares are shares of government-owned companies that were given free to the six lowest income deciles.
Justice Shares portfolio includes 49 state-owned companies in the auto, metal, mining, and agriculture, petrochemical, and banking sectors. A total of 35 companies are already listed with the stock market and another 14 are planning an initial public offering.