SPY will go ex-dividend Friday, December 20th, 2019 with a dividend I’m estimating, based on historical patterns of $1.52 per share. SPY’s distribution payout will be on January 31st, 2020—yes the SPDR folks take their time delivering the dividend. I’m estimating Vanguard’s VOO, one of the other two big S&P 500 ETFs, will go ex-dividend the 17th of Decenber with an estimated dividend of $1.43/ share. iShares’ IVV, will go ex-dividend on the 16th of December with a dividend I’m estimating at $1.55/ share. VOO and IVV are much faster to distribute the dividends—both payout within a week of their ex-dividend dates. IVV and VOO reinvest dividends into their constituent 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 $275 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 $193 billion and $123 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. Reference data for SPY and IVV dividends can be found here.
|Ticker||Next Ex-dividend||Next Pay date||Sept Dividend||Sept Dividend|
|SPY||20-Dec–2019||31-Jan-2020||$1.384||$ 1.52 (est)|
|VOO||17-Dec-2019 (est)||20-Dec-2019 (est)||$ 1.301||$ 1.43 (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 market open 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 2019 Ex-Dividend Dates|
|SPY||15-Mar-19||21-Jun-19||20-Sep-19||20-Dec-19||30-Dec-19 (potential cap gains)|
|IVV||20-Mar-19||17-Jun-19||24-Sep-19||16-Dec-19||30-Dec-19 (potential cap gains)|
|VOO||21-Mar-19||27-Jun-19||24-Sep-19 (est)||17-Dec-19 (est)|
|Pay / Distribution Dates|
|VOO||26-Mar-19||2-July-19||1-Oct-19 (est)||20-Dec-19 (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 2014.
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