SPY went ex-dividend Friday, March 19th, 2021 with a dividend $1.278 per share. The economic consequences of COVID-19 had an impact on the December dividend with the Q4 2020 distribution being essentially the same as 2019’s Q4. I expect that COVID-19 will continue to depress dividends. SPY’s next distribution payout will be on April 30th, 2021—yes the SPDR folks take their time delivering the dividend. iShares’ IVV, one of the other two big S&P 500 ETFs, went ex-dividend on the 25th of March with a dividend of $1.311 per share. Vanguard’s VOO went ex-dividend on the 26th of March with a dividend I’m estimating of $1.2625 per share. Vanguard does not release their ex-div dates and distribution dates until just a few days before they happen, so the future dates below are just estimates. 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 $337 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 $238 billion and $192 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||December Dividend||March 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 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 2021 Ex-Dividend Dates
|VOO||26-Mar-21||25-Jun-21 (est)||27-Sep-21 (est)||21-Dec-21 (est)|
|Q1||Q2||Q3||Q4||Potential Cap Gains|
|VOO||31-Mar-21||30-Jun-21 (est)||1-Oct-2021 (est)||27-Dec-21 (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 2015.
Updated 7-Feb, 2021
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