State Street Global Advisors Distributes for SPDR S&P 500 ETF Trust CDIs
SPY (SPY) Share Update December 2024 Thursday 19th
State Street Announces Distribution for SPDR S&P 500 ETF Trust CDIs
State Street Global Advisors, Australia Services Limited has announced a new distribution for the SPDR S&P 500 ETF Trust CHESS Depositary Interests (CDIs), offering investors a payout of USD 1.965548 per unit.
Instant Summary:
- Distribution amount: USD 1.965548 per unit.
- Ex-date: 20 December 2024.
- Record Date: 23 December 2024.
- US Pay Date: 31 January 2025.
- Expected AUD Pay Date: 14 February 2025.
- No Distribution Reinvestment Plan available.
Distribution Details
State Street Global Advisors has announced a distribution for the SPDR S&P 500 ETF Trust CDIs, with a payout of USD 1.965548 per unit. This distribution is part of the regular income provided to investors holding CDIs, which represent interests in the SPDR S&P 500 ETF Trust.
The timetable for the distribution includes an ex-date of 20 December 2024, meaning that units will trade ex-distribution from the start of trading on this date. The record date is set for 23 December 2024, with the US pay date scheduled for 31 January 2025. Investors can expect the AUD payment on 14 February 2025.
Additional Information
It's important to note that there is no Distribution Reinvestment Plan (DRP) available for these CDIs, which means investors will receive their distribution in cash rather than reinvesting it into additional units. The foreign exchange rate for the conversion of the payment to Australian dollars will be provided before the AUD pay date.
For any queries regarding the distribution, investors are encouraged to contact the registrar, Link Market Services Limited, at 1300 665 385.
The distribution announcement is a positive signal for investors, as it indicates a continued flow of income from the SPDR S&P 500 ETF Trust. However, the absence of a DRP might limit reinvestment options for some investors. The impact on the broader market is expected to be neutral, as this distribution aligns with regular income expectations for such investment vehicles.
Investor Reaction:
Analyst reactions are likely to be positive, as the distribution provides a predictable income stream for investors. However, some may express mild disappointment over the lack of a DRP, which could have facilitated automatic reinvestment.
Conclusion:
Investors should take note of the distribution dates and plan accordingly to maximize their investment strategies. Staying informed about the foreign exchange rate closer to the AUD pay date will also be crucial for those concerned with currency conversion impacts.