This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SPDR ® ETF Announces Additional Information On Treatment Of Weyerhaeuser Company Special Dividend

As previously announced on August 19, 2010 and August 4, 2010, SPDR® S&P 500 ETF Trust (NYSE: SPY), The Materials Select Sector SPDR® Fund (NYSE: XLB), SPDR® Dow Jones Large Cap ETF (NYSE: ELR), SPDR® Dow Jones Large Cap Value ETF (NYSE: ELV) and SPDR® Dow Jones Total Market ETF (NYSE: TMW) (collectively, the “SPDR Funds”), as record holders of Weyerhaeuser Company (NYSE: WY), do not intend to make a special dividend payment reflecting the amounts received from the Weyerhaeuser Company special dividend. The amounts received from Weyerhaeuser Company will be reflected as part of each SPDR ETFs’ scheduled dividend payments.

S&P 500 ETF Trust (NYSE: SPY) has elected the “STOCK” option. The Materials Select Sector SPDR® Fund (NYSE: XLB), SPDR® Dow Jones Large Cap ETF (NYSE: ELR), SPDR® Dow Jones Large Cap Value ETF (NYSE: ELV) and SPDR® Dow Jones Total Market ETF (NYSE: TMW) have elected the ‘CASH” option. The details of each option are available in Weyerhaeuser Company’s prospectus supplement filed with the Securities and Exchange Commission on July 13, 2010. Although several SPDR Funds elected the CASH option, it is expected that each SPDR Fund electing CASH will receive a mix of cash and WY stock. The ratio of cash and stock is not available at this time but, under the terms, up to 90% of the dividend could be paid in WY stock. Each SPDR Fund intends to retain the newly-issued WY securities unless its underlying index does not increase the WY weightings on or around the pay date of the distribution. The applicable index providers may not immediately increase the WY proportionately, and therefore the SPDR Funds may be over weight in WY versus their index for a short period.

The full amount of the Weyerhaeuser Company special dividend is anticipated to be included in the income dividend distribution scheduled for September regardless of the SPDR Fund’s election and the final allocation between stock and cash of the dividend payment.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
XLB $49.52 -0.92%
SPY $209.77 -0.04%
TMW $0.00 0.00%
STT $76.47 0.25%
WY $31.78 0.16%


DOW 17,984.95 -49.98 -0.28%
S&P 500 2,100.38 -0.02 -0.00%
NASDAQ 5,018.49 +23.8880 0.48%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs