FirstRand PayPal-linked ETNs synthetically reinvest PayPal dividend of $0.14 per share, lifting NAV
PYPL•FirstRand Bank said PayPal paid a dividend of $0.14 per share on Sept. 25, 2026, prompting a synthetic reinvestment for its PPETNC and PPETNQ ETNs. After a 15% effective tax rate, $0.119 per share was reinvested at $55.04, increasing referenced PayPal shares without a cash distribution to holders.
1. Dividend reinvestment
FirstRand Bank said PayPal Holdings paid a dividend of $0.14 per share on Sept. 25, 2026, triggering a synthetic reinvestment for the bank’s PPETNC and PPETNQ exchange-traded notes. Net of a 15% effective tax rate, the reinvestment amount was $0.119 per share and was executed at $55.04 per share.
2. Impact on ETNs
The bank said the synthetic reinvestment increases the fractional number of PayPal shares referenced by each ETN. Holders receive no cash distribution.
