SPY will go ex-dividend Friday, December 21st, 2018 with a dividend that I’m estimating, based on historical patterns, of $1.55 /shares. SPY’s distribution payout will be on January 31st, 2019—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 on the 21st of December with a dividend of $1.42/ share. iShares’ IVV, went ex-dividend on the 17th of December with a dividend of $1.442/ 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 $259 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 $161 billion and $101 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||September Dividend||Dividend Dividend|
|SPY||21-Dec-2018||31-Jan-2019||$1.323||$ 1.55 (est)|
|VOO||21-Dec-2018 (est)||28-Dec-2018 (est)||$1.207||$ 1.42 (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 2018 Ex-Dividend Dates|
|SPY||16-Mar-18||15-Jun-18||21-Sep-18||21-Dec-18||26-Dec-18 (potential cap gains)|
|IVV||22-Mar-18||26-Jun-18||26-Sep-18||17-Dec-18||28-Dec-18 (potential cap gains)|
|Pay / Distribution Dates|
|SPY||30-Apr-18||31-Jul-18||31-Oct-18||31-Jan-19||31-Jan-19 (potential cap gains)|
|IVV||28-Mar-18||2-July-18||2-Oct-18||21-Dec-18||4-Jan-19 (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 2013. 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%
- 2018 Ex-Dividend Dates for iShares’ IFEU, IFAS, DVYE, IFGL, IFNA, DVYA, IDV, WPS
- SPXH—Hedging the S&P 500 For Free?
- A Tale of Two Bulls
- Prediction: Dec 31,2013 S&P 500 close at 1468.38 up 2.96%
First posted: Friday, January 1st, 2010 | Vance Harwood