A renowned financial information services subsidiary of Japanese financial giant SBI Group, Morningstar, will continue its Ripple [XRP] shareholder benefits program.
In line with an official announcement earlier today on Friday, Morningstar has approved year-end shareholder benefits within the sort of XRP.
The new dividend payout option comes as a part of the firm’s year-end reward program to thank its shareholders for their continued support additionally to interim shareholder benefits. Beneath the program, Morningstar will offer XRP rewards of over 2.5k Japanese yen [$23 USD] units per 100 shares owned by shareholders as of 31st March, this year.
The exact amount of XRP offered to shareholders is going to be determined in accordance to a market value of XRP recorded on 30th June, this year, SBI outlined. As a part of the initiative, Morningstar will ask shareholders to open cryptocurrency accounts via SBI Group’s crypto subsidiary SBI VC Trade.
As reported earlier, Morningstar started paying out dividends in XRP earlier in 2019, offering 30 XRP per 100 shares. Headquartered in Tokyo, the firm is concentrated on offering financial information and investment research services. At the time of reporting, the firm’s stock is trading at 493 yen [$4.5 USD], up over 2% over the past 24 hours, with a market capitalization of 44.2 Bln yen [$407k].
Morningstar’s parent firm, SBI Group, has weighed in on paying dividends in XRP cryptocurrency also, considering launching such a program earlier in last year. The firm has been actively engaged in the development of XRP-based products across its ecosystem, enabling XRP lending on its cryptocurrency platform SBI VC trade earlier in February.
SBI has been supportive of Ripple amid ongoing action against the firm within the United States. SBI CEO Yoshitaka Kitao outlined that Japan is that the presumably country for Ripple to maneuver to if it’s forced to go away from the United States.