Skandia prepares income generator based on dividends

The three-year product is open for investment until June 26 2009, with income payments made on each of the three anniversaries with the return for the first year fixed at 6% of the capital invested. At the end of years two and three, payments will be determined by the value of dividends issued each year by the companies.

When a constituent company issues a dividend, its value is calculated as a proportion of the value of the FTSE100 as a whole - and expressed as a unit called 'dividend points'.

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