Next 2021 SPY, VOO, IVV Ex-Dividend Dates and Estimated Dividends

SPY went ex-dividend Friday, September 17th, 2021 with a dividend of $1.428 per share SPY’s next distribution payout will be on October 29th, 2021—yes the SPDR folks take their time delivering the dividend.  iShares’ IVV, one of the other two big S&P 500 ETFs, will go ex-dividend on the 24th of September with a dividend I’m estimating at of $1.43 per share.  I’m estimating Vanguard’s VOO will go ex-dividend on the 27th of September with an estimated dividend of $1.37 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 $400 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 $305 billion and $200 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.

TickerNext Ex-dividendNext Pay DateJune DividendSeptember Dividend
SPY17-Sept-202129-Oct-20211.3761.428
IVV24-Sept-202130-Sep-20211.2251.43 (est)
VOO27-June-2021 (est) 1-Oct-2021 (est)1.3331.37 (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 2021 Ex-Dividend Dates

TickerQ1Q2Q3Q4
SPY19-Mar-2118-Jun-2117-Sep-2117-Dec-21
IVV25-March-2110-Jun-2124-Sep-2113-Dec-21
VOO26-Mar-21 29-Jun-2127-Sep-21 (est)21-Dec-21 (est)

Pay/Distribution Dates

Q1Q2Q3Q4Potential Cap Gains
SPY30-Apr-2130-Jul-2129-Oct-2131-Jan-2231-Jan-22
IVV31-Mar-2116-Jun-2130-Sep-2117-Dec-215-Jan-22
VOO31-Mar-21 2-July-211-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 2016.

Updated 13-Sept 2021

Why 14.5 is the right PE ratio for the S&P 500

Interested in SPY dividend capture?


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43 thoughts on “Next 2021 SPY, VOO, IVV Ex-Dividend Dates and Estimated Dividends”

  1. Anyone else feel like the broad market dividend raises have been lackluster so far this year? I’ve been hearing companies have been raising their dividend pretty healthily this past quarter, so I wonder what gives. Thanks for the dividend updates!

    Reply
  2. Hello Vance,

    I purchased few shares of VOO on March 19, 2021 based on your ex-dividend information.
    Hopefully I can receive VOO’s dividend

    Reply
    • I will probably update in the next couple of weeks. Info isn’t officially available yet, but for 2021 should be March 19, June 18, Sept 17 & Dec 17th for Spy dividend.

      Reply
      • Hi Vance,

        You article help me to sell S&P500 ETFs position before ex-dividend date.

        Coz, I have to pay a tax of 30% income tax on dividend in US Market, so I need to sell S&P500 ETFs position before ex-dividend date and buy another S&P500 ETF(If VOO will ex-dividend and SPY was ex-dividend that sell all of VOO to buy SPY) immediately to avoid the income tax.

        Many thanks!

        Reply
        • Hi Zac. Be careful…if you sell the S&P 500 ETF then you will owe tax on the gain. if this is short term gain (held less than one year) then you’ll owe the tax (at income tax rates) for the whole realized gain. Also, the price of the stock is decreased by the amount of the dividend. I would strongly suggest you consult with a tax advisor before you make this stock move.

          Thanks, Vance for this article…I have found this info to be hard to find in one location.

          Reply
          • Hi Matt,

            Thank you for the reminder. Actually, I’m NRA(Non-Resident Alien), don’t need to pay the income tax.

            Thanks a lot!

  3. Very informative article.

    With the decrease in the underlying value of the SPY when a dividend is issued, do the authorized participants whose obligation it is to keep the SPY within range of the SPX step in and offset the drop occurred during the dividend? Or is this drop observed during the dividend still negligible enough for the SPY to maintain an acceptable range of the SPX and not necessitate the step of destroying shares to keep prices on target?

    Thanks.

    Reply
    • Hi Thomas, When SPY goes ex-dividend its theoretical value drops by the dividend amount because the cash that the fund was holding is now owned by the shareholders rather than being held by the fund. The value that it falls to is equivalent to the SPX value at that point. Over the course of a quarter SPY develops a premium relative to SPX because of this. The ex-dividend event occurs outside of normal trading hours so the APs are not active in managing the differential between the SPY & the SPX value. Because of the very large and liquid SPX futures and SPY markets any premium or discount between the two gets arbitraged out very quickly by institutional players.

      Best Regards, Vance

      Reply
  4. There’s a wrong word in the following sentence (December) at the start of the article.

    SPY went ex-dividend Friday, Dividend 15th, 2017

    Reply
  5. 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?

    Reply
    • 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.

      Reply
  6. 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.

    Reply
  7. 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.

    Reply
  8. 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?

    Reply
    • 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.

      Reply
      • 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!

        Reply
        • 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

          Reply
          • 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

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

      — Vance

      Reply
  9. 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.

    Reply

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