Next 2017 SPY, VOO, IVV Ex-Dividend Dates and Estimated Dividends


Updated: Oct 1st, 2017 | Vance Harwood | @6_Figure_Invest

SPY went ex-dividend Friday, September 15th, 2017 with a dividend of $1.23457 per share. Its distribution payout will be on October 31st,2017.  VOO, one of the other two big S&P 500 ETFs, went ex-dividend the 19th of September with a dividend of $1.176/ share and IVV went ex-dividend on the 26th of September with a dividend of $1.28/ 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 $240 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 $124 billion and $72 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 June Dividend Sept. Dividend
SPY 15-Sept-2017 31-Oct-2017 $1.18311 $1.23457
IVV 26-Sept-2017 29-Sept-2017 $1.11698  $1.28392
VOO 19-Sept-2017 (est) 22-Sept-2017 (est) $1.01 $1.176


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 2017 Ex-Dividend Dates
Ticker Q1 Q2 Q3 Q4
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.

 

 

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Sunday, October 1st, 2017 | Vance Harwood
  • Ray Seakan

    I was told by the representative at SPDR that the SPY ex dividend date for March 2011 is the 18th. The 19th is a Saturday.

  • vance3h

    Hi Ray,

    Thank you very much for giving me the heads up. I have corrected my information.

    — Vance

  • Thanks for your informative article.

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  • Anon

    Thanks, needed to know the divy, and this was the only place I could find it!

  • Jasongg

    anybody have a good estimate for the SPY dividend for the Q4?

  • vance3h

    Hi Jason, Don’t know how accurate you need to be. Based on historical data / trends I’m estimating $0.84 per share.

    — Vance

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  • David

    Why is there a potential date for the SPY ex dividend of 27th December? Is there a possibility it’s not the 20th? Thanks.

  • The 27th is a potential capital gains distribution. Very unlikely. The 20th is definitely the regular ex-div date.
    –Vance

  • HappyJack

    The article says the ex-dividend is Friday May 17, 2016. Is that a typo? Did you mean June 17th, 2016?

  • Sorry. Should have been been June. Fixed. Thanks!

  • Otto Adams

    IVV dividends of $0.99 for June 2016 – What happened?

  • Mike Kano

    I’m seeing some data which indicates the SPY dividend could be as high as $1.38 per share. We’ll know soon enough.

  • Richard D.

    Above you said “You can sell on the ex-dividend date if you want and still collect the dividend when the distribution / pay date arrives.” Don’t you have to hold through the record date which is typically around 4 days after the x-div date?

  • Annie Pickett

    The stock may appear in your account on the same day, but the settlement date is in the future so you need to buy it a few days before the ex-dividend date. Not just the day before.

  • Annie Pickett

    If you regularly short options on your stock/ETF, be aware that the counter-party could exercise the options to be assigned the shares. This way of acquiring shares also makes the new owner eligible to receive the dividend.

    My account’s functionality is limited so I can’t see when my shorted options have been exercised so I don’t know if I am receiving the dividend or not.

  • No. With the T+3 settlement process (which is going to become T+2 in September 2017) Shares that are purchased before the ex-dividend date are still officially owned by you on the record date–which is the date that matters. The record date is 2 business days past the ex-dividend date.

  • Sorry Annie, not true. The record date is 2 business days after the ex-dividend date so stocks purchased the day before the ex-dividend date have met the T-3 day requirement for settlement and are eligible for the dividend.

  • Frogger

    Thank you for this blog. I have referred to it often for several years as I have learned.

    So, Im certain someone else has thought of this, so the market has sucked all the efficiency and reward from it, but…

    If one’s account is able through margin and swift trades, could one hop from one dividend to another in the major SPY/VOO/IVV indexes?

    Or is there some variability in price action hopping from SPY to VOO to IVV that negates all additional dividend captures?

    It seems too good to be true. To own XXX shares of SPY, and then ex-div sell and buy immediately VOO or IVV to capture that dividend. And provided the sell price is higher, (not necessary), sell and rebuy the SPY for next dividend?

    Thoughts?

  • Hi Frogger, When a stock goes ex-dividend it is essentially a zero-sum game, the stock drops at open by the amount of the dividend–so there is nothing free to be gained. That drop is pretty noisy, the dynamics of the market often disguise it but I think a consistent practice of doing this would end up worse than neutral.

  • Leonardo

    Hi Vance,
    I was notified that on September 5, 2017, the timeline for equity trade settlement will be reduced from three business days after the trade date (“T+3”) to two business days after the trade date (“T+2”). Does it mean that from now on a person who purchases shares (such as SPY) exactly on the ex-dividend day will get the dividend?

    Thank you so much!

  • Hi Leonardo, The change to T+2 changes the “record” date to be a day earlier than before, but you still have to buy the stock the day before the ex-dividend date to received the dividend.

    Vance

  • Leonardo

    Hi Vance,

    Thank you for straightening it out!

    I have searched many places and this is the only site that covers the tips for ex-dividend trade. I thank you for creating this forum!

    Since the underlying ETF (e.g., SPY) will typically drop on the ex-dividend day as you pointed out, how about we buy a lot of SPY put options the day before (long-dated puts) and close them on the ex-dividend day? Will that be profitable?

    Thank you again!

    Leo