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MarketScreener Homepage  >  Equities  >  Nyse  >  State Street Corporation    STT

STATE STREET CORPORATION

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State Street : Global Advisors Announces Additional 2019 Income Distribution for XLE and XLV

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12/20/2019 | 08:47am EST

The Select Sector SPDR Funds listed in the table below, each an exchange-traded fund (“ETF”), announced today that each ETF will make an additional 2019 income distribution. The ex-dividend date will be December 30, 2019, record date will be December 31, 2019 and payment date will be January 3, 2020. The Energy Select Sector SPDR Fund (NYSE Arca Exchange: XLE) and The Health Care Select Sector SPDR Fund (NYSE Arca Exchange: XLV) have designated the additional dividend to be a special distribution.

During the ETFs’ fiscal and tax year-end audits (September 30), certain gains incurred related to corporate actions on underlying portfolio holdings were re-characterized to ordinary income for U.S. tax purposes. Generally, regulated investment companies must distribute substantially all of their net income on a tax basis to shareholders by calendar year-end or incur a 4% federal excise tax. The net asset value (“NAV”) per share of the each ETF is reduced in direct proportion to the amount of such additional distributions.

 

Fund

Approximate
Additional
Net Income

Shares Outstanding
as of
December 18, 2019

Per
Share
Impact

The Energy Select Sector SPDR Fund (XLE)

$389,000,000

176,874,200

$2.1993

Occidental Petroleum Corp. acquisition of Anadarko Petroleum Corp.

 

The Health Care Select Sector SPDR Fund (XLV)

$155,000,000

193,415,324

$0.8014

Cigna Corporation acquisition of Express Scripts Holding Company

 

The amounts shown in the table above are estimates and may change due to fund activity and changes in shares outstanding.

The Select Sector SPDR ETFs made their regularly scheduled quarterly distribution on December 20, 2019, which consisted of both net income earned from September 20, 2019 to December 19, 2019 and an estimate of net income to be earned through December 31, 2019.

 

Top 10 Holdings - XLE*

Weight

Exxon Mobil Corporation

21.92%

Chevron Corporation

20.64%

ConocoPhillips

4.95%

Phillips 66

4.82%

Schlumberger NV

4.73%

EOG Resources Inc.

4.35%

Marathon Petroleum Corporation

3.83%

Kinder Morgan Inc Class P

3.79%

Valero Energy Corporation

3.77%

Occidental Petroleum Corporation

3.26%

 

Top 10 Holdings - XLV*

Weight

Johnson & Johnson

10.05%

UnitedHealth Group Incorporated

7.30%

Merck & Co. Inc.

6.04%

Pfizer Inc.

5.71%

Abbott Laboratories

4.08%

Medtronic Plc

4.07%

Bristol-Myers Squibb Company

3.99%

Amgen Inc.

3.86%

AbbVie Inc.

3.53%

Thermo Fisher Scientific Inc.

3.40%

 

*As of December 17, 2019, and subject to change.

About SPDR Exchange Traded Funds

SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are sponsored by affiliates of State Street Global Advisors. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit www.spdrs.com.

About State Street Global Advisors

For four decades, State Street Global Advisors has served the world’s governments, institutions and financial advisors. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become the world’s third largest asset manager with nearly US $2.95 trillion* under our care.

* This figure is presented as of September 30, 2019 and includes approximately $64 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

Important Risk Information:

All ETFs are subject to risk, including possible loss of principal.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Although ETFs may be bought and sold on the exchange through any brokerage account, ETFs are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only.

XLE and XLV are offered to US Investors only and distributed by ALPS Portfolio Solutions Distributor, Inc. member FINRA. ALPS Portfolio Solutions Distributor, Inc. is not affiliated with State Street Global Advisors Funds Distributors, LLC.

Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com. Read it carefully.

Not FDIC Insured • No Bank Guarantee • May Lose Value

Intellectual Property Information: Standard & Poor's®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.

State Street Global Advisors, One Iron Street, Boston, MA 02110

© 2019 State Street Corporation - All Rights Reserved

Expiration Date: 12/31/2020

2878615.1.1.AM.RTL

SSL001123


© Business Wire 2019
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