QQQ dividend

Discussion in 'Trading' started by saschabr, Jun 7, 2004.

  1. Hello,

    does anyone know whether QQQ will pay a dividend during next weeks (june) and if so, which day ?

    I searched my a** off for this :( , but could only come up with that last time they paid was in 12/2003.
  2. omcate


    My broker sent me a prospectus for Nasdaq-100 Trust dated January 30, 2004. Dividend and distributions are mentioned on page 1 and page 12 of the booklet. You may like to download it. Hopefully it'll help.:p

  3. got it. thx omcate !

    I understand now QQQ dividend policy (quite complex), but they still make no statement if they actually have an ex-div record date on June 22 or not

  4. Well, now that MSFT actually pays a dividend, I guess someone figured they had to do something about it. 1 out of 100 should make it pretty easy math, though.
  5. The last dividend was just 1.4 cents a share and I don't think there was one the year before. But little dividend income they get from the underlying shares is eaten up by the funds administrative expenses.
  6. MRWSM


    The dividend is so small I didn't even know I received a dividend until I did my 2003 taxes. LOL
  7. omcate


    The following is my understanding of the issue after scanning through page 1 and page 12 of the prospectus:

    Dividends are distributed on the last business day of April, July, October and January. The record dates are the second business day following the third Friday of March, June, September, and December. Hence, June 22, 2004 seems to be a record date.

    Now the bad news::D
    If expense is not less than the dividend, there will be no dividend distribution for that particular quarter. If the dividend minus the expense is less than 0.05% of the asset value of the Trust, no dividend will be distributed for that particular quarter either. The excess amount will be rolled into the next quarter, and so on. Even if the culminated excess amount for the whole tax year is less than 0.05% of the Trust, it will be distributed at least annually to satisfy certain tax requirements.

    I am getting dizzy after reading this crap. How can the lawyers do this everyday?:confused: