SPY went ex-dividend Friday, June 16th, 2017 with a dividend of $1.18311 per share. Its distribution payout will be on July 27th,2017. VOO, one of the other two big S&P 500 ETFs, went ex-dividend the 23rd of June with a dividend of $1.01/ share and IVV will go ex-dividend on the 27th of June with a dividend of around $1.17/ 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 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 $229 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 $111 billion and $68 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||March Dividend||June 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||17-Mar-17||16-Jun-17||15-Sep-17||15-Dec-17||27-Dec-17 (potential cap gains)|
|IVV||24-Mar-17||27-Jun-17||26-Sep-17||20-Dec-17||29-Dec-17 (potential cap gains)|
|VOO||24-Mar-17||23-Jun-17||13-Sep-17 (est)||22-Dec-17 (est)|
|Pay / Distribution Dates|
|SPY||28-Apr-17||27-Jul-17||31-Oct-17||31-Jan-18||31-Jan-18 (potential cap gains)|
|IVV||30-Mar-17||30-Jun-17||29-Sep-17||26-Dec-17||4-Jan-18 (potential cap gains)|
|VOO||28-Mar-17||29-Jun-17||19-Sep-17 (est)||29-Dec-17 (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 the graph to enlarge.
Why 14.5 is the right PE ratio for the S&P 500 Interested in SPY dividend capture?
- Prediction: Dec 31, 2015 S&P 500 close at 2346 up 13.9%
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- SPXH—Hedging the S&P 500 For Free?
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Sunday, June 25th, 2017 | Vance Harwood