SPY went ex-dividend Friday, December 18th, 2020 with a dividend of $1.58 per share. The economic consequences of COVID-19 had a significant impact on the September dividend but less on the December dividend with Q4 2020 dividend being essentially the same as last year’s Q4. SPY’s next distribution payout will be on January 29th, 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 14th of December with a dividend of $1.61 per share. Vanguard’s VOO went ex-dividend on the 22nd of December with a dividend of $1.383 per 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 $299 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 $195 billion and $159 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||December 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 2020 Ex-Dividend Dates
|Q1||Q2||Q3||Q4||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 2015.
Updated August 23, 2020
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