iShares dividends: IWM, IVV, OEF and more

Updated: Sep 6th, 2011 | Vance Harwood
 

For  iShares Russell ETFs  (e.g., IWM) ex-dividend and paydate information go here.

For iShares S&P ETFs (e.g, IVV, OEF) ex-dividend and paydate information go here.

More ex-dividend, distribution date, and dividend history information here.



Dividend capture by buying SPY and shorting IVV?

Updated: Mar 14th, 2013 | Vance Harwood
 

If your devious dividend capture plan involves you hedging against SPY’s price movements by selling IVV short until after SPY goes ex-dividend you can forget about it. The IVV (Barclays Global) price doesn’t drop by SPY’s dividend amount on SPY’s ex-dividend date. It continues to track the S&P 500 until it goes ex-dividend a few days later. Your master plan will net out with you down by at least your commission costs.

For  IVV and SPY ex-dividend and distribution dates and lots of others  see here.

If you are interested of an overview of dividend strategies—some of which actually work, see this post.

Thanks to Jeff in the comments below for pointing out to me that IVV management doesn’t have to do anything in order for this to play out this way.

IVV vs SPY (June 2010 ex-dividends), click to enlarge



Next 2016 SPY, VOO, IVV Ex-Dividend Dates and Estimated Dividends

Updated: Nov 4th, 2016 | Vance Harwood
 

SPY will go ex-dividend  Friday, December 16th, 2016 with a dividend that I’m estimating based on historical patterns to be $1.28 per share. Its distribution payout will be on January 31st ,2017. I’m estimating that VOO, one of the other big S&P 500 ETFs, will go ex-dividend the 19th of December with a dividend of $1.04 / share and IVV on the 21st of December with $1.24 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 $199 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 $78 billion and $50 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
SPY 16-Dec-2016 31-Jan-2017   $1.08202  $1.28 (est)
IVV 21-Dec-2016 30-Sep-16  $1.10309  $1.24 (est)
VOO 19-Dec-2016 (est) 23-Dec-16 (est)  $0.883 $1.04 (est)


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
Ticker Q1 Q2 Q3 Q4
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)
VOO 21-Mar-16 21-Jun-16 13-Sep-16 19-Dec-16 (est)
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)
VOO 28-Mar-16 27-Jun-16 19-Sep-16 23-Dec-16 (est)


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.

spy-chart-dec16

spy-table-dec16

 

Why 14.5 is the right PE ratio for the S&P 500 Interested in SPY dividend capture?