Common use of Dividend Equivalent Amount Clause in Contracts

Dividend Equivalent Amount. The Dividend Equivalent Amount is the cash amount to be paid by the Trustee for each SPDR outstanding on SPDR record date. It includes a proportional amount of cash corresponding to the regular cash dividends (less accrued Trust expenses) for the stocks on deposit with the Trustee which have gone ex-dividend during each quarterly accrual period beginning on the third Friday of March, June, September, and December. A portion of the Dividend Equivalent Amount may be characterized as a return of capital to reflect cash amounts deposited through creations.

Dividend Equivalent Amount. The Dividend Equivalent Amount is the cash amount to be paid by the Trustee for each MidCap SPDR outstanding on MidCap SPDR record date. It includes a proportional amount of cash corresponding to the regular cash dividends (less accrued Trust expenses) for the stocks on deposit with the Trustee which have gone ex-dividend during each quarterly accrual period beginning on the third Friday of March, June, September, September and December. A portion of the Dividend Equivalent Amount may be characterized as a return of capital to reflect cash amounts deposited through creations.