Quick Poll

Visa Inc Pays Dividend: FirstRand Bank ETN Holders Benefit

  • Visa Inc paid $0.52/share dividend on March 1, 2024, benefiting VSETNC and VSETNQ ETN holders sponsored by FirstRand Bank.
  • Dividend was reinvested synthetically, increasing fractional shares; no direct payment made to holders; NAV updated accordingly.
  • Holders can access updated NAV; reinvestment enhances investment value; FirstRand Bank committed to investor value.

Visa Inc’s recent dividend payout has sparked excitement among holders of the VSETNC and VSETNQ exchange-traded notes (ETNs) sponsored by FirstRand Bank Limited. On Friday, 1 March 2024, Visa Inc distributed a dividend of $0.52 per share, triggering a synthetic reinvestment for the ETN holders.

Dividend Reinvestment Details

Dividend amount$0.52/share
Effective tax rate15%
Reinvestment amount$0.442/share
Reinvestment price$283.16/share

The dividend, net of taxes, charges, and fees, was reinvested synthetically at the US closing price on the same day. This resulted in an increase in the fractional number of shares each ETN references, without any direct distribution or payment to the holders.

Impact on Holders

This dividend reinvestment translates to a tangible benefit for ETN holders, as it enhances the overall value of their investment without necessitating any additional action on their part. The reinvestment effectively compounds their holdings, potentially boosting future returns.

Updated Net Asset Value (NAV)

The daily published net asset value (NAV) has already incorporated the effects of the dividend payout and reinvestment. Holders can access the updated NAV via the official channels provided by FirstRand Bank Limited.


Visa Inc’s dividend payment and subsequent reinvestment have added value to the VSETNC and VSETNQ ETNs, benefiting holders in the process. This development underscores the potential rewards of investing in these instruments and highlights the ongoing commitment of FirstRand Bank Limited to provide value to its investors.



South Africa’s primary source of financial tools and information

Contact Us



Rateweb strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions.

Rateweb is not a financial service provider and should in no way be seen as one. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles.