SPDR S&P 500 ETF Trust - Distribution Rate Announcement for November 2024
SPY (SPY) Share Update November 2024 Monday 18th
SPDR S&P 500 ETF Trust Announces Distribution Rates
State Street Global Advisors has announced the distribution rates for the SPDR S&P 500 ETF Trust CDIs, providing key information for investors on the upcoming payouts.
Instant Summary:
- USD distribution rate per interest: USD 1.745531
- Foreign exchange conversion rate: USD 1.00 = AUD 1.511307
- AUD distribution rate per interest: AUD 2.638033
- Pay Date: 14 November 2024
Distribution Details
State Street Global Advisors has released the distribution rates for the SPDR S&P 500 ETF Trust CHESS Depositary Interests (CDIs), effective for the upcoming payout scheduled on 14 November 2024. The distribution rate in US dollars is set at USD 1.745531 per interest. This announcement follows up on the initial notice provided on 20 September 2024.
In addition to the USD distribution rate, the foreign exchange conversion rate has been established at USD 1.00 equating to AUD 1.511307. Consequently, the distribution rate in Australian dollars is AUD 2.638033 per interest. This conversion is crucial for investors holding CDIs in Australia, as it directly affects the payout they will receive.
Investor Guidance
Investors are advised to contact the registrar, Link Market Services Limited, for any queries related to this distribution. The contact number provided is 1300 665 385. This announcement has been authorized by Robert Cook, Company Secretary of State Street Global Advisors, Australia Services Limited.
The SPDR S&P 500 ETF Trust is a significant investment vehicle, principally listed and traded on NYSE Arca, Inc. under the symbol 'SPY'. It is registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940.
The announcement of distribution rates is a routine yet vital aspect of ETF management, providing investors with clarity on expected returns. The foreign exchange rate plays a significant role for Australian investors, as currency fluctuations can impact the equivalent AUD payout.
Investor Reaction:
Analysts are likely to view this announcement as a standard update, with the focus on the foreign exchange rate's impact on Australian investors. The consistent distribution rate may reassure investors of the ETF's stability.
Conclusion:
Investors should take note of the distribution rates and the pay date to plan their financial strategies accordingly. Staying informed about such updates is essential for managing investment portfolios effectively.