# 1.6.9 Cash return

Cash return, or dividend or **cash yield**, measures the cash received in relation to the initial value of the asset. The index-level cash return is calculated as the weighted average using the index weight of each constituent.

where:

denotes an index-constituent cash payment to the equity investors (including dividends on equity, interest and repayment of shareholder loans) in the period between times *t* and *t-1* expressed in reporting currency.

denotes constituent *i*'s fair value estimate at time *t-1* expressed in reporting currency.

denotes the weight of constituent *i* at time *t-1*.

In order to show the cash yield trends, **5- and 10-year moving averages** of the index income return are computed.

This is an input to the computation of the price and cash returns contribution.