Quick answer: The Schwab U.S. Dividend Equity ETF (SCHD) pays dividends quarterly, typically in late March, late June, late September, and early December. The most recent payment was $0.26 per share, with an ex-dividend date of March 25, 2026 and a pay date of March 30, 2026. The next ex-dividend date is projected for June 24–25, 2026, with a pay date around June 29–30. SCHD’s trailing-twelve-month yield sits at roughly 3.28%–3.33%, with an annualized dividend near $1.04–$1.06 per share.
Last updated: May 21, 2026, 8:00 a.m. ET
SCHD Dividend Quick Stats (May 2026)
| Metric | Value |
|---|---|
| Fund name | Schwab U.S. Dividend Equity ETF |
| Ticker / Exchange | SCHD / NYSE Arca |
| Issuer | Charles Schwab Investment Management |
| Distribution frequency | Quarterly |
| Most recent ex-dividend date | March 25, 2026 |
| Most recent pay date | March 30, 2026 |
| Most recent dividend per share | $0.26 |
| Projected next ex-dividend date | June 24–25, 2026 |
| Projected next pay date | June 29–30, 2026 |
| Trailing 12-month dividend yield | ~3.28% – 3.33% |
| Approx. annual dividend (2025 total) | $1.05 per share |
| Expense ratio | 0.06% |
Sources: Charles Schwab Asset Management, Wall Street Horizon ETF Calendar, Stock Events, Dividend History, MarketChameleon. Figures vary slightly across providers due to different snapshot dates.
SCHD Pay Schedule Pattern
SCHD has paid quarterly distributions since inception (2011). The fund follows a consistent late-quarter ex-dividend pattern:
- Q1: Ex-dividend in the third or fourth week of March; pay date end of March.
- Q2: Ex-dividend in the third or fourth week of June; pay date end of June.
- Q3: Ex-dividend in the third or fourth week of September; pay date end of September.
- Q4: Ex-dividend in the first or second week of December; pay date around mid-December.
The Q4 distribution tends to be slightly different in timing (earlier in December) because of tax and fiscal year-end considerations for the underlying portfolio holdings.
SCHD 2026 Projected Distribution Calendar
Based on the historical pattern and announced data, here is the expected 2026 SCHD distribution timeline.
| Quarter | Ex-Dividend Date | Pay Date | Dividend per Share | Status |
|---|---|---|---|---|
| Q1 2026 | March 25, 2026 | March 30, 2026 | $0.26 | Paid |
| Q2 2026 | ~ June 24–25, 2026 | ~ June 29–30, 2026 | $0.22 – $0.27 (proj.) | Upcoming |
| Q3 2026 | ~ September 23–25, 2026 | ~ September 28–30, 2026 | TBD | Projected |
| Q4 2026 | ~ December 10–11, 2026 | ~ December 14–15, 2026 | TBD | Projected |
Note: Projected dates are based on multi-year patterns and may shift by 1–3 business days. Always confirm with the official Schwab Asset Management distribution announcement, which is typically released 4–6 weeks before each ex-dividend date.
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How SCHD’s Index and Holdings Drive the Dividend
SCHD tracks the Dow Jones U.S. Dividend 100 Index, which screens for companies with at least 10 consecutive years of dividend payments, then applies four fundamental quality metrics: cash flow to total debt, return on equity, dividend yield, and five-year dividend growth rate. The index is rebalanced quarterly and reconstituted annually.
The fund’s distribution comes from the dividends paid by its underlying holdings, net of fees and expenses. Quarterly dividend amounts therefore vary based on:
- Which companies are in the index that quarter
- How much each pays during the holding period
- Special dividends paid by holdings
- The fund’s small management fee (0.06% expense ratio)
This is why distribution amounts can vary slightly each quarter even though the schedule is consistent.
Ex-Dividend Date vs. Pay Date: What Each Means
For SCHD, as with all dividend-paying securities, two dates matter most:
Ex-Dividend Date. To receive the next dividend payment, you must own SCHD shares before the ex-dividend date. If you buy on the ex-dividend date or later, the seller receives that quarter’s dividend. The stock typically opens lower by approximately the dividend amount on the ex-dividend date (this is the natural “ex-div drop”).
Pay Date. The date the dividend is actually paid to shareholders of record. Brokers post the dividend to your account on or shortly after this date.
Record Date. Set by the fund as the cutoff for being a shareholder of record. Under T+1 settlement (effective May 2024 for U.S. equities), the ex-dividend date and record date typically coincide.
SCHD vs. VYM, DGRO, and Other Dividend ETFs
SCHD is one of three large dividend-focused ETFs commonly compared by income investors. A quick reference:
| ETF | Index Focus | Distribution Frequency | Expense Ratio |
|---|---|---|---|
| SCHD | Dow Jones U.S. Dividend 100 (quality + yield) | Quarterly | 0.06% |
| VYM | FTSE High Dividend Yield (high yield only) | Quarterly | 0.06% |
| DGRO | Morningstar U.S. Dividend Growth (growth focus) | Quarterly | 0.08% |
| NOBL | S&P 500 Dividend Aristocrats (25+ year streak) | Quarterly | 0.35% |
SCHD’s distinguishing feature is the combination of yield and dividend growth screens — it neither chases the highest yields (which can signal stress) nor focuses purely on growth (which can mean low current income). This is why it sits at ~3.3% yield with consistent quarterly increases over time.
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Frequently Asked Questions
How often does SCHD pay dividends?
Quarterly. Four times per year, typically in late March, late June, late September, and early December.
What is the SCHD dividend yield?
The trailing 12-month dividend yield is approximately 3.28%–3.33% as of May 2026, based on the most recent share price. Yields change daily as the share price moves.
When is the next SCHD dividend?
The next ex-dividend date is projected for June 24–25, 2026, with a pay date around June 29–30, 2026. The official date is announced by Schwab Asset Management approximately 4–6 weeks before each payment.
How much is the SCHD dividend per share?
The most recent (Q1 2026) distribution was $0.26 per share. The trailing 12-month total is approximately $1.04–$1.06 per share. Future amounts vary based on the underlying holdings.
Does SCHD pay monthly dividends?
No. SCHD pays quarterly. Investors looking for monthly distributions typically consider income-focused ETFs like JEPI, SCHY (international), or specific YieldMax products — though those have very different risk profiles.
Is SCHD a good dividend ETF?
EskiSignal does not provide investment advice. SCHD’s structure, expense ratio, and historical distribution consistency are factual; whether it fits any individual portfolio depends on goals, risk tolerance, and tax situation. Consult a qualified financial professional.
Sources
- Charles Schwab Asset Management — SCHD Fund Page: schwabassetmanagement.com/products/schd
- Wall Street Horizon — SCHD Dividend Calendar: wallstreethorizon.com
- NYSE Arca — Listing Information
- S&P Dow Jones Indices — Dow Jones U.S. Dividend 100 Methodology
Editorial note: This article is for informational and educational purposes only. It is not investment advice, financial advice, or a recommendation to buy, sell, or hold any security. Dividend amounts and dates are subject to change by the fund issuer. Always verify with the official source before making decisions.
Written by Aybars Y. · Reviewed by EskiSignal Editorial · Last updated: May 21, 2026
