Next 2019 SPY, VOO, IVV Ex-Dividend Dates and Estimated Dividends

SPY will go ex-dividend Friday, December 20th, 2019 with a dividend I’m estimating, based on historical patterns of $1.52  per share.  SPY’s distribution payout will be on January 31st, 2020—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 the 17th of Decenber with an estimated dividend of $1.43/ share.  iShares’ IVV, will go ex-dividend on the 16th of December with a dividend I’m estimating at $1.55/ 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 $275 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 $193 billion and $123 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 dateSept  DividendDec Dividend
SPY20-Dec–201931-Jan-2020 $1.384$ 1.52 (est)
IVV16-Dec-201920-Dec-2019 $1.483$ 1.55 (est)
VOO17-Dec-2019 (est)20-Dec-2019 (est)$ 1.301$ 1.43 (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 2019 Ex-Dividend Dates
TickerQ1Q2Q3Q4
SPY15-Mar-1921-Jun-1920-Sep-1920-Dec-1930-Dec-19 (potential cap gains)
IVV20-Mar-1917-Jun-1924-Sep-1916-Dec-1930-Dec-19 (potential cap gains)
VOO21-Mar-1927-Jun-1924-Sep-19 (est)17-Dec-19 (est)
Pay / Distribution Dates
SPY30-Apr-1931-Jul-1931-Oct-1931-Jan-20
IVV26-Mar-1921-Jun-1930-Sep-1920-Dec-19
VOO26-Mar-192-July-191-Oct-19 (est)20-Dec-19 (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 2014.

Why 14.5 is the right PE ratio for the S&P 500 Interested in SPY dividend capture?


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25 thoughts on “Next 2019 SPY, VOO, IVV Ex-Dividend Dates and Estimated Dividends”

  1. 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
  2. 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
  3. 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
  4. 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
  5. 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
  6. 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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