SPY went ex-dividend Friday, December 16th, 2016 with a dividend of $1.32893 per share. Its distribution payout will be on January 31st ,2017. VOO, one of the other big S&P 500 ETFs, went ex-dividend the 22nd of December with a dividend of $1.296 / share and IVV on the 21st of December with $1.30409 per share. VOO and IVV are much faster to distribute the dividends—both pay out within a week of their ex-dividend dates. IVV and VOO reinvest dividends from their underlying stocks until the payout date arrives. SPY is restricted by its Unit Investment Trust legal structure to hold dividends in cash until they are paid out.
SPY is the largest ETF in the world, currently with $226 billion in assets under management. The next two largest ETFs that track the S&P 500 are iShare’s IVV and Vanguard’s VOO—currently with $91 billion and $57 billion in assets respectively. The table below summarizes dividend information for SPY, IVV, and VOO. Vanguard only publishes ex-dividend dates a few days prior to the event itself, so future dates for VOO are just estimates.
|Ticker||Next Ex-dividend||Next Pay date||Sept Dividend||Dec Dividend|
You only have to buy a stock or ETF the day prior to its ex-dividend date to be eligible for the dividend. You can sell on the ex-dividend date if you want and still collect the dividend when the distribution / pay date arrives. Be aware that in a flat market the stock or ETF at opening on its ex-dividend date will typically drop in value by the dividend amount. See Top 10 questions on Dividends if you have more questions.
|SPY, IVV, VOO 2016 Ex-Dividend Dates|
|SPY||18-Mar-16||17-Jun-16||16-Sep-16||16-Dec-16||28-Dec-16 (potential cap gains)|
|IVV||23-Mar-16||21-Jun-16||26-Sep-16||21-Dec-16||28-Dec-16 (potential cap gains)|
|Pay / Distribution Dates|
|SPY||29-Apr-16||29-Jul-16||31-Oct-16||31-Jan-17||31-Jan-17 (potential cap gains)|
|IVV||30-Mar-16||27-Jun-16||30-Sep-16||28-Dec-16||4-Jan-1 (potential cap gains)|
For more information about ex-dividend and distribution dates for SPDR, iShares, Schwab, and Vanguard ETFs see this post. See the chart below for SPY’s dividend history since 2010. Click on graph to enlarge.
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Thursday, December 22nd, 2016 | Vance Harwood