It has been reported that Morningstar will continue to benefit from the shareholder benefits program from XRP. Morningstar is known to be a subsidiary of a multinational company known as SBI Group. SBI Group is one of the most prominent and most influential financial giants in Japan. The company is known to have a huge number of subsidiaries that are spread all over the world.
As per reports, Morningstar has no intentions of leaving XRP behind with respect to its benefits and potential. The firm has made an announcement on Friday, March 12, 2021, surrounding the adoption of XRP. It has announced that the year-end shareholder benefits will be given out to the investors in the form of XRP.
It has been revealed that the company had recently announced a year-end reward program for the shareholders. Therefore, the company had revealed that the new dividend payouts will be given to the shareholders in the form of XRP.
Morningstar has announced that paying out the XRP dividends would be their way of thanking shareholders for their constant support. The company has also confirmed that these benefits will not be the only thing as the shareholders will be eligible to receive their interim benefits as normal.
Morningstar has announced that the rewards that it will give out in the form of XRP would be per 100 share units. For every 100 units of shares, the shareholders will be given a benefit of 2,500 Japanese Yen worth of XRP. At the time of publishing, the 2,500 Japanese Yen figure translates to $23 per 100 units. The implementation of the new shareholders benefit would commence from March 31, 2021.
Following the announcement of the XRP dividends, Morningstar has taken the initiative of providing crypto-exposure to the shareholders in the firm. Therefore, the shareholders at Morningstar will be required to set up their cryptocurrency accounts.
The shareholders will be required to set up their cryptocurrency accounts through SBI VC Trade that is a cryptocurrency subsidiary of SBI Group.
For those who are getting to know Morningstar for the first time, the company had first started paying dividends in the form of XRP back in the year 2019. At that time, it was reported that for every 100 share units, the firm was offering 30 XRP.
Morning is based in Japan and is known for facilitating users in terms of investment research and financial information.
At the time of publishing, the trading price of the Morningstar share is 493 Japanese yen ($4.5). This is a 2% increase that Morningstar shares have successfully gained in terms of price in the last 24 hours. As far as the market capitalization of the company is concerned, it is currently sitting at a market capitalization of $44.2 billion yen.